Federal Reserve Chairman Jerome Powell came out this week and indicated the central bank is set to pivot away from its aggressive rate hikes. But he couched the announcement in hawkish terms. The markets bought the pivot and ignored the hawkishness. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey puts Powell’s remarks in a broader context and speculates about what might be coming down the pike.
There are a lot of things they didn’t teach you in school. In this episode of the Friday Gold Wrap, host Mike Maharrey tells you a Thanksgiving story you’ve probably never heard before – at least not from your school teacher. He also touches on the Fed minutes that came out this week that seem to confirm a soft pivot on rate hikes.
People in the financial media tend to talk about inflation as an academic exercise. As a result, it’s easy to forget that rising prices cause real pain for real people. And Americans are feeling that pain today. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey highlights some ways inflation is impacting regular people. He also explains why he thinks stagflation is the most likely outcome of this inflation fight.
They say perception is reality. Based on the October CPI data, the perception is inflation has peaked. But what’s the reality? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the CPI data along with the markets’ reaction to it and wonders if the inflation victory dance is a little premature. He also talks about the big rally in gold and central bank gold buying.
The Federal Reserve delivered a 75-basis point rate hike at its November meeting, as expected. But what’s next? That’s a little harder to decipher. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the mixed messaging that came out of the Fed meeting and concludes the central bank’s monetary policy is “a wing and a prayer.” He also covers the recently released Q3 gold demand data.
The third quarter GDP data came out this week and it looks like the recession is over. (If there ever was one.) But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and says, “Not so fast!” He also talks about a mainstream economist who sounds a lot like Peter Schiff and a big problem brewing with diesel fuel.
Inflation is raging. The economy is teetering on the brink. Government spending is out of control. All of this has a root cause. Our money is broken. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about what broke our money and the only way to fix it. He also reveals the illusion of rising wages and breaks down Whoopi Goldberg’s inflation blame game.
The September Consumer Price Index (CPI) data came out on Thursday. Once again, it was “hotter than expected,” despite the Federal Reserve hiking rates by over 3% since March. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down the CPI data in the context of the Fed’s inflation fight and concludes “this is what losing looks like.”
Last week, the Bank of England threw in the towel on its inflation fight and launched a quantitative easing program. Why? Because something broke in the UK financial system. That led to a rally in stocks and precious metals this week as many in the US realized the Fed might be closer to a pivot than previously thought. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about why he thinks something is going to eventually break in the US economy.
With a hurricane barreling toward his home, Friday Gold Wrap podcast host Mike Maharrey called an audible and recorded this week’s show ahead of time. And since the hurricane is in the news, as well as top-of-mind for his family, he uses it as a jumping-off point to talk about some economics including the concept of “price gouging” and the “broken window fallacy. He also touches on dollar strength and how it’s impacting the gold and silver markets.