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Interest rate hikes get most of the attention as the Federal Reserve fights inflation, but balance sheet reduction is arguably more important. And it’s not going well. Since the Fed stopped buying Treasuries and started letting bonds fall off its books as they mature, the bond market has experienced increasing volatility and liquidity problems. In […]
Festival and wedding buying boosted gold demand in India last month and the outlook looks strong moving forward.
Proving that most people have no idea what causes inflation, the majority of Americans in a recent poll said they want the federal government to hand out stimulus checks to combat inflation.
The Federal Reserve sent out mixed messages after its November FOMC meeting leaving markets wondering just how much more the central bank will tighten monetary policy. As expected, the Fed delivered another 75 basis point rate hike, pushing the Fed funds rate to between 3.75 and 4%. The last time interest rates were this high […]
On the surface, the September job numbers looked pretty good. The economy continues to add jobs and the unemployment rate fell. But these headline numbers paper over underlying problems in the economy. While President Biden brags about job growth, the average American is working more just to maintain last year’s standard of living.
The United Nations Conference on Trade and Development (UNCTAD) got it half right. The UN agency warned that there is a high risk of a global recession due to central banks tightening monetary policy to fight inflation. But the solutions offered reveal that the UNCTAD has no idea what causes inflation.
If the Keynesians are right, Hurricane Ian will create an economic boom here in Florida. After all, breaking windows creates demand and that stimulates the economy. And after this massive hurricane cut through Florida, there were a lot of broken windows — and much worse.
This is starting to look a lot like the popping of the dot-com bubble with one big difference — inflation. Beginning in mid-June, we saw a significant bear market rally in stocks. But the recent declines have wiped out those gains and more. For instance, the Dow jumped 14% during the 2-month rally. By the […]
Given historically high inflation, why haven’t we seen a big rally in gold and silver? There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it’s important to put gold and silver’s recent price movements in a broader perspective. In fact, gold has been one […]
Hurricane Ian is taking aim at Florida. That means there is already talk of “price gouging.” People have a visceral emotional reaction to people raising prices during a disaster. But it is nothing but feelz. In fact, “price gouging” serves an important economic function. Not allowing prices to rise actually causes more harm.
