Yesterday, President Joe Biden announced Republicans and Democrats have come up with a $1.2 trillion infrastructure deal. But where is Uncle Sam going to come up with the money? And what does this tell you about the likely trajectory of Federal Reserve monetary policy? Host Mike Maharrey talks about it in this episode of the Friday Gold Wrap podcast. He also discusses the latest talk, talk, talk coming out of the Fed.
The Federal Reserve wrapped up its June meeting this week. The markets are convinced Jerome Powell has gone hawkish. Has he though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the messaging coming out of the FOMC meeting and reaches a completely different conclusion. He also compares and contrasts three competing narratives about the trajectory of Fed monetary policy.
We got another round of hotter than expected CPI data this week. The mainstream financial media is spinning this as good news. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the CPI data without the rose-colored glasses. He also talks about an announcement by a major restaurant chain that may well be a canary in the coal mine. His conclusion – in the end, economics wins.
With some positive economic data coming out this week, investors suddenly went bullish on the economy again and decided that the Fed is surely going to deal with inflation now. Will it though? In this Friday Gold Wrap Podcast episode, host Mike Maharrey speculates about the Fed’s next move. He also looks ahead and talks about the long-term future of the dollar. Can we assume it will always be the reserve currency?
The Fed wants us to believe everything is under control. The economy is improving. Inflation is transitory. Good times are ahead. But behind the scenes, central bankers and government officials are scrambling to keep all the economic props in place. As they intervene in one area of the economy, they create problems in another. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about some of these interventions along with gold’s recent rally above $1,900.
After last week’s hotter than expected CPI data, gold sold off, following a pattern we’ve seen over the last few months. But in the last week, gold has rallied, knocking on the door of $1,900. In fact, there has been a broader pivot in the market that could indicate the mainstream is ready to face the reality of inflation. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the big pivot. He also discusses some bullish fundamentals in the silver market.
CPI came in much hotter than expected. Fed Vice Chairman Richard Clarida actually said, “We were surprised by higher than expected inflation data.” But should we really be surprised by this? In this episode, Friday Gold Wrap host Mike Maharrey talks about inflation and suggests maybe you shouldn’t be shocked. He also discusses the whacked-out labor market.
Treasury Secretary Janet Yellen did a big flip-flop this week. Her comments and her subsequent attempt to walk them back were telling. She accidentally revealed the ugly truth about inflation and the central bank’s ability to deal with it. In this episode of the Friday Gold Wrap, host Mike Maharrey takes Yellen to task. He also talks about the recent rally in both gold and silver.
There was a lot of news and economic data that came out this week. The Fed held its April meeting. President Biden unveiled yet another tax and spend plan. And the Q1 GDP numbers came out. In this episode of the Friday Gold Wrap, host Mike Maharrey gives an overview of the week’s news and draws a rather unsettling conclusion — this economy is totally jacked up.
There’s been some chatter in the financial media about the decline of the gold market. Gold is a relic of the past and crypto will replace it as the go-to safe haven and inflation hedge, according to some. But as host Mike Maharrey explains in this episode of the Friday Gold Wrap podcast, the demise of the gold market is greatly exaggerated. A lot of people still want gold. Mike also touches on the national debt in this episode. It’s even worse than most people think.
