United States President-elect Barack Obama on Monday officially unveiled the economic team that will assist him in tackling what he termed 'an economic crisis of historic proportions'.Obama has named New York Federal Reserve President Tim Geithner as US Treasury Secretary and former Treasury Secretary Larry Summers as chief of the National Economic Council.
The central bank asked lenders to specify potential risks as low, moderate, high and very high
Gold is often favoured as a hedge against economic and financial uncertainty
As it is a highly liquid asset, central banks can afford to look past its short-term volatility to longer-run average returns.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
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