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Even as the Fed talked about tightening monetary policy, the money supply grew at the fastest pace since last winter. In the latest period, M2 increased by $263 billion. This is a major jump compared to the last two months and is the highest month-over-month growth since February. The same period in 2020 saw M2 only […]
The Federal Reserve held its September Federal Open Market Committee (FOMC) meeting last week. While there was a lot of talk about the central bank tapering its quantitative easing program, the Fed didn’t announce any concrete plans to slow asset purchases. The lack of concrete action was no surprise to Peter Schiff. After the Fed […]
The Fed has an inflation problem. The CPI is running well above the mythical 2% target and there isn’t any sign that it will ease soon. To deal with this problem, the central bank should tighten its monetary policy. But that would create a whole new problem, given that it can’t tighten in this economic […]
The Federal Reserve wrapped up another FOMC meeting with a whole lot of talk and very little action. Interest rates remain at zero and quantitative easing continues unabated. The mainstream headlines are all focusing on the prospect of QE tapering. In this episode, Friday Gold Wrap host Mike Maharrey explains why he’d write a completely […]
The Federal Reserve wrapped up its September FOMC meeting Wednesday and once again left its extraordinary loose “emergency” monetary policy in place. Quantitative easing continues unabated. Interest rates remain at zero. But the Fed did signal it may begin to taper quantitative easing “soon.” In his podcast, Peter Schiff broke down the FOMC statement and […]
In yet another sign “transitory” inflation might not be so transitory, FedEx has announced plans to significantly hike shipping rates in 2022. FedEx said it will raise rates for US domestic, export and import services by 5.9%, on average next year. Some freight rates will rise as much as 7.9%. The company also plans to […]
We got a much better than expected retail sales report for August. That sparked a selloff in gold and silver as the markets continue to anticipate Fed monetary tightening. But was this report really fantastic news? Peter Schiff breaks down the report and says it’s actually just telling us consumers are paying more to buy […]
CPI data came in slightly cooler than expected for August, giving new energy to the “transitory” inflation narrative. But can we really trust these numbers? In this episode, Friday Gold Wrap host Mike Maharrey takes a deep dive into the CPI and considers this question. He also touches on the big gold sell-off Thursday sparked […]
For months, Federal Reserve Chairman Jerome Powell has insisted that inflation is “transitory.” Instead of laying out a plan to taper quantitative easing, Powell used his Jackson Hole speech to double down on that narrative. Looking at the bigger picture, the US government has created a CPI calculation that intentionally understates rising prices. This raises […]
For the first time in nine months, the government CPI data came in under expectations. Prices rose by 0.3% last month, just below the 0.4% projection. Year on year, the CPI was up 5.3%. Core inflation, stripping out more volatile food and energy (for those of you who don’t eat or use energy) was up […]
