Last week’s jobs numbers came in weaker than expected. September’s CPI came in hotter than expected. That puts the Federal Reserve between a rock and a hard place. Does it tighten monetary policy to fight inflation? Or does it keep stimulating to boost the economy? In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down the data and says it’s about time for the central bank to pick its poison.
There was a recent scandal at the Federal Reserve when information came out revealing that several central bank officials made multiple multimillion-dollar stock trades in 2020 even as the Fed was putting its big fat thumb on the economic scales. But as Ron Paul points out, there’s an even bigger scandal over at the Federal Reserve and it’s a matter of policy. The Fed’s manipulation of monetary policy and the broader economy impoverishes ordinary Americans, even as it enriches the elites, and facilitates government debt and deficits.
Inflation continues to run hot. Even some of the folks over at the Fed are having a hard time peddling the “transitory” inflation narrative. But politicians and government officials lack the skill of self-reflection. As a result, they can’t clearly see the problem. In this episode of the Friday Gold Wrap, host Mike Maharrey looks at some of the latest inflation data and the Fed’s response to it. He also touches on the fake debt ceiling fight and breaks the September job report numbers.
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 meeting, Peter appeared on NTD News to talk about it and the Fed’s apparent reluctance to take any concrete steps toward monetary tightening. He said the central bank is in the process of replacing America’s economic foundation with a money printing press.
Wouldn’t it be cool if you could just talk and your words would alter reality?
It would elevate you to superhero status — or super-villain depending on your propensity to use your power for good or evil.
You know, there’s a real-life person who at least appears to have this superpower.
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 different headline about this Fed meeting.
Peter Schiff says gold will explode and the dollar will implode when the markets figure out the Fed is crying wolf when it comes to monetary tightening.
The Federal Reserve wrapped up another meeting without making any changes to its current extraordinary, loose, inflationary monetary policy. But the central bank did hint that it may start tapering its quantitative easing program “soon.”
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 Fed Chair Jerome Powell’s post-meeting press conference. He said he thinks when it comes to tightening monetary policy, the Fed is bluffing.
A Reuters article by Stefano Rebaudo argued that the Federal Reserve might welcome a “bond market tantrum” that pushes bond yields higher. But does the Fed really want higher interest rates? And what would that mean for the economy?
Despite the post-pandemic economic improvement and wide expectations that the Fed will begin tapering quantitative easing in the near future, bond yields have remained stubbornly low. Ten-year Treasury yields remain stuck just above 1.3%.
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 less.