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After hotter than expected CPI data came out for the sixth time this year, Federal Reserve Chairman Jerome Powell spent two days on Capitol Hill trying to convince everybody that there’s no problem. As Peter Schiff put in in a recent podcast, the Fed is betting the farm on “transitory” inflation. It’s really got no […]
The markets were looking for signs that the transitory inflation period was coming to an end. They didn’t get it when the June CPI number came in much hotter than expected. In his podcast, Peter Schiff talked about the latest price data and said it reveals the dirty little secret – all of this talk […]
There has been a growing sentiment in the markets that inflation isn’t transitory and the Fed is going to eventually have to tighten monetary policy to deal with it. The International Monetary Fund fed the narrative last week when Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United States. This comes […]
Despite the addition of a better than expected 850,000 jobs in June, the unemployment rate ticked up to 5.9%, The anticipation was that it would drop to 5.6%. The media spun this as a fantastic jobs report, focusing on the headline number of jobs “created.” Peter Schiff talked about it in his podcast and said […]
Earlier this week, a federal court threw out an antitrust case against Facebook. The lawsuit filed by the Federal Trade Commission, along with 48 state governors, sought to force Facebook to divest itself of WhatsApp and Instagram, but the court said the FTC failed to prove that Facebook holds monopoly power. In his podcast, Peter […]
The S&P 500 closed last week at an all-time record high. This is quite a reversal from the previous week. In his podcast, Peter Schiff said there has been a shift in expectations. After the June FOMC meeting, investors were jittery that the Fed was going to tighten monetary policy to fight inflation. Now the […]
Gold pushed above $1,900 an ounce near the end of the trading day Tuesday (May 25) and closed just below that level. Silver also had a strong day, up about 22 cents, closing just below $28 an ounce. Meanwhile, the dollar index headed in the opposite direction, closing an 89.66. That’s the lowest level for […]
We’ve been talking about the inflation threat for months. But the markets have been acting as if the real threat is the Federal Reserve trying to fight inflation by tightening monetary policy. With every bit of inflation news, gold has sold off. But after last week’s hotter than expected CPI data, it looks like investors […]
The consumer price index (CPI) came in much hotter than expected. The consensus was for a 0.2% month-to-month increase in price inflation. The actual number was 0.8%. It was the biggest monthly gain in CPI since 1981. Annualized, CPI measured 4.2% – more than double the mythical Federal Reserve target of 2%. Federal Reserve Vice […]
Everybody expected the jobs report last Friday to show a big increase in employment. It didn’t happen. Instead of the 978,000 new jobs created in April that economists expected, nonfarm payroll increased by just 266,000. On top of that, the Labor Department revised the March number down from 916,000 to 770,000. The unemployment rate ticked […]
