Despite rising interest rates and more hawkish talk from Federal Reserve Chairman Jerome Powell, the stock markets keep pushing upward. Everybody seems to think the Fed has things under control and everything will be just fine. In his podcast, Peter explained why this “everything is great” attitude will have to come to an end.
After going from not even thinking about thinking about raising interest rates, to thinking about it, to talking about it, the Fed finally got around to raising rates last week. Peter Schiff called it the most anticipated and probably the least significant rate hike ever. So, what’s next? In his podcast, Peter said the Fed will keep raising rates … until it can’t.
The Fed launched its much-anticipated war on inflation this week. It wasn’t much of a first strike. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed meeting and what might come next. He also touches on the possibility of a “petroyuan.”
The Federal Reserve wrapped up its March meeting, delivering a 25 basis-point interest rate hike in the face of a 7.9% CPI. Peter Schiff called it the most anticipated and probably the most meaningless rate hike in history.
The Fed is supposedly about to step into the ring to fight inflation. But all indications are it’s going to be a feckless fight.
We got the February CPI data yesterday. There is some bad news in the report and then there is some really bad news. In this episode, SchiffGold Friday Gold Wrap Host Mike Maharrey breaks it all down. He also talks about gold’s rollercoaster ride this week in the context of inflation and the Russia-Ukraine situation.
Debt issuance by the US Treasury has fallen since the binge in December when the Treasury had to replenish its “extraordinary measures” stockpiles (government employee retirement funds) after the end of the “debt ceiling” debate. Still, issuance remains relatively high.
The Treasury added another $278 billion in debt during February. Similar to January, the Treasury stopped converting short-term to long-term debt Instead, it increased Bills by $94 billion, more than any other security type.
The markets seem to be anticipating a Fed inflation fight. They also seem to be realizing that this is going to cause a recession. But they still haven’t come to grips with the fact that this is not going to fix the inflation problem. In his podcast, Peter Schiff argues that the recession will actually end up making inflation worse.
Are we heading toward housing crisis 2.0?
That remains to be seen.
Two things are for certain. This is a massive housing bubble. And the Fed is holding the pin.
There was more bad inflation news this week. So, the Fed is about to ramp up the inflation fight, right? Not so fast. In this episode of the Friday Gold Wrap, host Mike Maharrey argues that the central bank isn’t set to go to war with inflation because it can’t. And he explains how St. Louis Fed President James Bullard let the cat out of the bag.
