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A 75 basis-point rate hike wasn’t even on the table a month ago. It appears that the central bankers over at the Fed were crawling around under the table because they found a 75-basis point rate hike. The Fed went big at the June FOMC meeting in response to hotter-than-expected May CPI data just a week […]
The Federal Reserve just gave us the biggest interest rate hike since 1994. A month ago, we were told a 75 basis-point hike wasn’t on the table. It almost seems like the central bankers are winging it. Or as Friday Gold Wrap podcast host Mike Maharrey puts it, it’s like they’re playing darts while wearing […]
The Federal Reserve took a more aggressive swing at red-hot inflation at its June FOMC meeting, raising interest rates by 3/4%. It was the biggest hike since 1994. The question is will this be the last swing at inflation?
The Federal Reserve doesn’t have a very good track record. It was wrong about transitory inflation. It was wrong about peak inflation. And it’s almost certainly wrong in thinking the economy is strong enough to withstand tighter monetary policy to fight inflation. But President Joe Biden trusts the Fed. The cornerstone of his inflation-fighting plan […]
Inflation wasn’t transitory. And inflation hasn’t peaked. It’s more like peak inflation was transitory.
The Consumer Price Index (CPI) data for May came out this morning. The projection was for another hot headline number but some relief in core CPI. This would seem to indicate we’ve passed peak inflation. In this episode of the Friday Gold Wrap podcast, host Mike Maharey explains why “good news” in the CPI data […]
Everybody was thrilled to get stimulus checks in the mail during the COVID-19 pandemic. “It’s free money!” many exclaimed. But nothing in life is free. This includes “free” things handed out by the government. So today, you’re paying for those stimmy checks and the government pandemic spending spree.
Why haven’t gold and silver rallied as one would expect in such a high inflation environment? In this episode of the Friday Gold Wrap, host Mike Maharrey delves into some of the psychology driving the markets and explains why it could be blinding people to just how serious the economic situation has become. He also […]
When the Federal Reserve tinkers with interest rates, it creates all kinds of economic distortions. This is very obvious in the housing market. Over the last couple of years, the Fed blew up a giant housing bubble. Now, the central bank has pricked that bubble. In this episode of the Friday Gold Wrap podcast, host […]
There is all kinds of spin out there when it comes to inflation. Peter Schiff recently appeared on News Nation to talk about the economy. He explained that the spin misses the mark. The real source of inflation isn’t the pandemic or Putin. It’s the Federal Reserve.
