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The debt ceiling fight is getting down to the wire. In a letter to Congress on Monday, Treasury Secretary Janet Yellen said that without a debt ceiling increase, it was highly likely the government wouldn’t be able to meet all of its obligations by “early June, and potentially as early as June 1.” Despite the […]
Federal Reserve Chairman Jerome Powell and former chair Ben Bernanke recently fielded questions together at the annual Thomas Laubach Research Conference put on by the central bank. They engaged in a lot of finger-pointing but didn’t offer a hint of self-reflection as they discussed inflation and the state of the economy.
We’ve talked about the recent selloff in gold. On the other side of the coin, the NASDAQ has made a string of 52-week highs. What is driving these market dynamics? The Fed. The markets generally believe that the Federal Reserve is finished hiking interest rates, or at least close enough to being done that a […]
Total household debt eclipsed $17 trillion for the first time ever in the first quarter of 2023 as Americans wrestle with persistent price inflation. After charting the biggest rise in 20 years during the fourth quarter, household debt climbed again in Q1, rising by $148 billion. The 0.9% increase pushed total household debt to $17.05 […]
Gold had dropped by over $100 in the last two weeks. Meanwhile, the dollar rose to a 7-week high on May 17. If you’re thinking that this looks a lot like how gold and the dollar moved at the height of the Federal Reserve’s inflation fight, you’re right. That’s because the central bankers at the […]
On an annual basis, the Consumer Price Index (CPI) increased by 4.9% in April. While that’s an improvement over last year, it’s still not good. It’s more than twice the Federal Reserve inflation target. And as Peter Schiff pointed out during a recent interview with Jesse Kelly, the reality is even worse than the numbers […]
Was the producer price data that came out late last week really more good news on the inflation front? That’s certainly how the mainstream media spun it. But as was the case with the April CPI data, the mainstream spin didn’t necessarily reflect reality. In fact, there is a pro-government, pro-official narrative bias that pervades […]
Great news on the inflation front! At least if you believe the headlines. For example, “Consumer Prices in April Rise at the Slowest Annual Rate in Two Years.” But if you read about one inch below the headline, you’ll discover things aren’t so great. In fact, the actual data reveals price inflation is looking pretty […]
The Federal Reserve raised rates yet again during its May FOMC meeting. Now everybody is trying to decipher the messaging coming out of the Fed to figure out what’s next. But what if the words Powell and Company are saying don’t really matter? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey […]
Is the rate hike pause in play? That question remains up for debate after the May Federal Reserve Open Market Committee meeting. But when you break it all down, the underlying economic reality is far more important than the messaging coming from Powell and Company. And the underlying economic reality is that inflation isn’t beat […]
