Last week’s jobs numbers came in weaker than expected. September’s CPI came in hotter than expected. That puts the Federal Reserve between a rock and a hard place. Does it tighten monetary policy to fight inflation? Or does it keep stimulating to boost the economy? In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down the data and says it’s about time for the central bank to pick its poison.
Inflation continues to run hot. Even some of the folks over at the Fed are having a hard time peddling the “transitory” inflation narrative. But politicians and government officials lack the skill of self-reflection. As a result, they can’t clearly see the problem. In this episode of the Friday Gold Wrap, host Mike Maharrey looks at some of the latest inflation data and the Fed’s response to it. He also touches on the fake debt ceiling fight and breaks the September job report numbers.
The Federal Reserve wrapped up another FOMC meeting with a whole lot of talk and very little action. Interest rates remain at zero and quantitative easing continues unabated. The mainstream headlines are all focusing on the prospect of QE tapering. In this episode, Friday Gold Wrap host Mike Maharrey explains why he’d write a completely different headline about this Fed meeting.
CPI data came in slightly cooler than expected for August, giving new energy to the “transitory” inflation narrative. But can we really trust these numbers? In this episode, Friday Gold Wrap host Mike Maharrey takes a deep dive into the CPI and considers this question. He also touches on the big gold sell-off Thursday sparked by surprisingly good retail sales numbers.
The government is always promising to fix things. It has policies to fix the economy, fix foreign countries, and even fix the pandemic. But as Friday Gold Wrap podcast host Mike Maharrey explains in this episode, instead of fixing things, the government wrecks pretty much everything it touches.
Federal Reserve Chairman Jerome Powell spent most of his Jackson Hole speech continuing to try to convince everybody that inflation is transitory. As Friday Gold Wrap podcast host Mike Maharrey points out in this episode, whether it is or isn’t transitory, inflation is a real thing that has a real impact on real people. In this show, he also breaks the news on the August jobs numbers and discusses taper talk.
Jerome Powell will speak today at the Jackson Hole economic summit. Everybody is on pins and needles in anticipation of the Fed chairman’s speech. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey discusses the Fed’s messaging and then moves past the talk to discuss the “here and now” reality. He also spends some time talking more fundamentally about gold as part of an investment strategy.
This week marked the 50th anniversary of President Richard Nixon slamming shut the “gold window” and cutting the last tether between the dollar and gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains exactly what Nixon did and the impact of 50 years of monopoly money. He also covers some of the week’s economic data and the release of the Fed’s July minutes.
Gold and silver tanked after last Friday’s job report. But both metals have rallied a bit since the July CPI numbers came in right at expectations. In this episode of the Friday Gold Wrap, host Mike Maharrey looks a little deeper at jobs and CPI. Then he goes off-script and addresses some listener comments.
Gold was solidly above $1,800 an ounce this week until Fed Vice Chair Richard Clarida mentioned the economy reaching the Fed’s goals earlier than expected and raised the specter of monetary policy tightening. But is the economy really improving as much as everybody seems to think? In this week’s Friday Gold Wrap, host Mike Maharrey digs into some of the economic numbers and determines they’re faking it.