Peter’s Blog

As expected, the Consumer Price index cooled a bit thanks to falling gasoline prices. The question is will this give the Federal Reserve the excuse it needs bow out of the inflation fight? The Consumer Price Index for July was up 8.5% year-on-year. That was down from June’s 9.1% print and slightly below the 8.7% […]

After the second straight negative GDP print in Q2, the markets began anticipating that the Federal Reserve would pivot away from its monetary tightening. But a few choice words from some Fed members this week caused thoughts of a pivot to pivot. As Peter Schiff put it in his podcast, it appears to be damn […]

The Federal Reserve delivered another 75 basis point interest rate hike at its July FOMC meeting. This pushes the federal funds rate over the 2% threshold to between 2.25% and 2.5%. The mainstream media emphasized the size of the hike. One headline called it “a second super-sized hike,” with many other mainstream pundits noting that […]

You don’t have to worry about that recession anymore. The White House fixed it. And by “fixed it” I mean it just changed the commonly held definition of a recession.

Putin is causing inflation. Greedy corporations are causing inflation. COVID-19 caused inflation. We hear all kinds of reasons for the recent spike in prices. And now we have a new one. It’s the millennials’ fault. This is all wrong and it illustrates the problem with redefining inflation to be something it isn’t.

Retail sales rose 1% in June after a 0.1% decline in May. Mainstream media breathlessly reported that the jump in retail spending “eases” recession fears. Does it though?

Fed Chair Jerome Powell and other members of the central bank have continued to talk tough about fighting inflation. But I’m pretty certain that in private, they were desperately hoping to see some cooling in the inflation data so they could start backing out of the ring. With a recession pretty clearly on the horizon […]

After the June FOMC meeting and the Fed’s 75- basis point interest rate hike, I argued that the central bank is totally winging it. Reading between the lines in the minutes from that June meeting seems to bear this out. The Fed appears to be in reaction mode. The question becomes what will it react […]

Well-known investment advisor Rick Rule said the Fed will chicken out on its inflation fight. Rule runs Rule Investment Media and formerly served as the president and CEO of Sprott US Holdings Inc. In a recent interview, Rule said that the Fed could get inflation under control with significantly tighter monetary policy for a sustained […]

Even with rising interest rates and the dollar at multi-year highs, gold has held its ground. Nevertheless, we have yet to see a big spike in gold prices despite persistent inflation. Why not? The perception is that rising interest rates are always bad for gold. But does perception match up with reality? If history is […]