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.
Federal Reserve Chairman Jerome Powell all but confirmed a soft pivot by the central bank in its inflation fight on Wednesday, while trying to maintain a hawkish demeanor.
The markets appear to be buying the pivot, but they are ignoring Powell’s “tough guy” spin.
In another bad sign for a housing bubble that is quickly deflating, investor purchases of single-family homes tanked in the third quarter.
Meanwhile, overall home sales continue to tumble and prices are falling.
The powers that be keep telling you that the economy is fine and inflation has likely peaked. But you’re not buying the story.
Consumer confidence fell for the second straight month in November as worries about inflation and the trajectory of the economy persist.
In another sign of a struggling economy, small businesses are having an increasingly hard time paying rent.
According to Alignable’s November Rent Poll, 41% of US small businesses reported they couldn’t pay their rent in full and on time in November. That was a 4 percentage-point increase from the previous month.
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.
A lot of mainstream pundits concede that the US economy is heading for a recession as the Federal Reserve continues to crank up interest rates in its inflation fight. But as Peter Schiff explained in a recent podcast, there is plenty of data that indicates the economy is already in a recession.
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.
Walmart recently announced better-than-expected third-quarter sales growth. This may seem like great economic news until you realize the reason behind the retailer’s big jump in sales.
As it turns out, wealthier shoppers are flocking to Walmart to make ends meet as rising prices squeeze pocketbooks.
Markets have rallied since we got cooler-than-expected CPI data for October. But in his podcast, Peter Schiff said we are in the eye of the inflation hurricane, and investors have been lulled into a false sense of security.
