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December Consumer Price Index data came out on Wednesday (Jan. 12). Month-on-month, it was again even hotter than expected. Peter called it an inflationary freight train that the Fed’s “field of dreams” monetary policy will not stop. “Transitory” inflation has now been running hot for a full year.
The Fed FOMC minutes came out last week, signaling tighter monetary policy. Peter Schiff talked about the minutes in his podcast, arguing that the Fed can’t do what it says it’s going to do. If it does, it will crash the markets and the economy. And it won’t lower inflation.
As 2021 goes into the history books, Peter Schiff looks back over what he calls “a year of peak speculation.” Of course, the big story of the year was inflation.
Gold closed out the week before Christmas above $1,800 an ounce, despite rising bond yields. The $1,800 level has been viewed as a ceiling for the price of gold. In his podcast, Peter Schiff said people need to start thinking of $1,800 as a floor. And he said they will once they realize there is […]
Last week, the Fed sped up its timetable for tapering its asset purchases and raising interest rates. While this represents a slightly tighter monetary policy, it’s far from truly tight. And yet, the central bankers at the Fed and a lot of people in the mainstream seem to think these small steps will tame the […]
The CPI data for November came in pretty close to expectations. Of course, expectations were sky-high as the transitory inflation narrative has faded into myth. The CPI surged another 0.8% month-on-month in November. The consensus expectation was for a 0.7% rise. The headline year-on-year increase was 6.8%. That was right in line with expectations. It […]
The stock market rallied early this week with receding worry about the omicron variant, but the specter of Federal Reserve monetary policy tightening remains. In his podcast, Peter Schiff talked about the anticipation of the Fed’s fight against inflation and explained why it’s a fight the central bank can’t win.
The transitory inflation narrative is dead. During an appearance before a Senate committee along with Treasury Secretary Janet Yellen Tuesday, Federal Reserve Chairman Jerome Powell said it was time to retire the word transitory. As Peter Schiff explains in his podcast, Powell came close to admitting he was wrong. But the question remains — what […]
Last Friday was Black Friday and it was a black and blue Friday for investors. Just about everything was down and markets panicked over a new COVID variant. Peter Schiff talked about the market reaction in his podcast. Did the markets overreact? And what would happen if we did go into another global lockdown? The […]
On Monday, President Joe Biden reappointed Jerome Powell to head up the Federal Reserve and nominated Lael Brainard to serve as the vice-chair. In his podcast, Peter Schiff talked about Biden’s decision, the markets’ reaction and what the Fed will (or will not) do moving forward. Ultimately, Peter said the devil you know is still […]
