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American consumers are spending more, getting less, and borrowing more to fund this involuntary spending spree. Retail sales in March were 7% higher than they were in the stimulus-fueled March of 2021, but thanks to inflation, they didn’t get as much bang for their buck.
On July 23, 2020, CNBC published an article by Elizabeth Schulze headlined: Here’s why economists don’t expect trillions of dollars in economic stimulus to create inflation. That one didn’t age well, did it?
If the Fed is fighting inflation and has ended quantitative easing, why is its balance sheet still going up? In the week ending April 13, the balance sheet grew by $27.9 billion, hitting a new record of $8.965 trillion. This is up about $3 billion from its previous high in March.
The Consumer Price Index hit 8.5% on an annualized basis in March, the highest level since 1981. In an attempt to get ahead of what everybody knew would be bad news, the Biden administration started blaming Russia for the big CPI before the data even came out. White House press secretary Jen Psaki said, “We […]
We got the CPI data for March this week. As expected, prices spiked significantly again last month. A lot of people in the mainstream are calling it “Putin’s price hike.” Friday Gold Wrap host Mike Maharrey says it would be more appropriate to call it Powell’s price hike. In this episode of the podcast, he […]
The mainstream seemed to take the March CPI data as good news. With core CPI coming in below expectations, the narrative is that we’ve probably hit peak inflation. But the producer price data that came out yesterday tells a different story.
As expected, the March Consumer Price Index was smoking hot with a 1.2% month-on-month increase and an 8.5% annual gain. But the mainstream found a silver lining in the numbers. Core inflation wasn’t quite as high as expected leading many to conclude that we’ve reached “peak inflation.” In his podcast, Peter Schiff said this is […]
The latest seasonally adjusted inflation rate for March was 1.21% month over month, with a non-seasonally adjusted annual rate of 8.56%. Both of these numbers came in slightly above expectations, which were elevated due to the war in Ukraine.
The inflation freight train is still hurtling down the track at breakneck speed. Everybody expected a big Consumer Price Index number for March. When it was all said and done, we got what was expected. And then some.
There was a little March Madness on Wall Street. In fact, the month turned into an old-fashioned blood bath. But you wouldn’t have found any carnage in the stock market. In fact, the Dow Jones gained a decent 2.3% on the month. But beneath that glittery stock market stage (that attracts the most investor attention) there […]
