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The Federal Reserve has hiked interest rates to levels not seen since before the financial crisis in 2008. The money supply had contracted at a rapid rate. This should cause the economy to slow down. Yet month after month, we get strong job numbers, rosy economic headlines, and assurances that the economy remains robust. What […]
There was a lot of economic data this month that seems to signal a strong economy. Does it though? Is everything really fine? In this episode of the Friday Gold Wrap, host Mike Maharrey digs deeper into the data and reveals a less sanguine reality. He also explains the inner workings of the spot price […]
We tend to focus a lot on the Federal Reserve’s interest rate policy, while the central bank’s balance sheet stays in the background. But the balance sheet arguably has more impact on the economy over the long run. Since the Fed began hiking interest rates in March 2022, it has also shrunk the balance sheet. […]
Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday (June 21). The Fed chief engaged in some more open-mouth operations, trying to guide monetary policy with words instead of actions. To understand a few things he said, you have to read between the lines. Oh, and he also got at […]
There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the […]
As was widely expected, the Federal Reserve Open Market Committee (FOMC) put rate hikes on pause at the June meeting, although it indicated we should expect additional hikes before the end of the year. The question is how long will the pause last and will the next Fed move actually be a rate cut?
With a debt ceiling deal done, the threat of a US government default is off the table for the time being. But a wave of corporate defaults is on the horizon according to Deutsche Bank’s annual default study. This is the inevitable consequence of central bank monetary policy and it was entirely predictable.
In March, I warned that the commercial and investment real estate markets could be the next thing to break in this bubble economy. A recent article in the Wall Street Journal put a face on my warning.
The debt ceiling “crisis” is coming to a head. We’re pretty confident Republicans and Democrats will strike a deal and raise the debt ceiling. That’s supposed to solve the problem. But Friday Gold Wrap podcast host Mike Maharrey says the solution is the problem. In this episode, he also offers some bullish perspective on silver.
Federal Reserve Chairman Jerome Powell and former chair Ben Bernanke recently fielded questions together at the annual Thomas Laubach Research Conference put on by the central bank. They engaged in a lot of finger-pointing but didn’t offer a hint of self-reflection as they discussed inflation and the state of the economy.
