Peter's Blog

Richmond Fed President Tom Barkin told a business audience in Greenville, South Carolina, this week that the United States has averaged 2.5 percent real GDP growth since 2023 despite the pandemic, supply-chain shortages, Russia’s invasion of Ukraine, conflicts in the Middle East, tariffs, and higher interest rates. He credited stout consumption, still nearly 70 percent […]

Federal Reserve Vice Chair Philip Jefferson told an audience at Stanford University on July 16 that monetary policy is facing a “delicate balancing act,” as overlapping shocks from the Middle East conflict, post-pandemic imbalances, and newly erected trade barriers keep inflation above target and threaten to unmoor expectations. The remarks, delivered at the Stanford Institute […]

New York Federal Reserve President John Williams didn’t show up to Tuesday’s Crane’s Money Fund Symposium in person, but his prepared remarks got out anyway. Gold didn’t care either way. Williams described the U.S. economy as “resilient amid the uncertainty” from the Middle East conflict, pointing to steady consumer spending and “robust” artificial-intelligence investment. In […]

Global investors staged a broad selloff in technology stocks on Monday, wiping out a staggering $593 billion in market value from chipmaker Nvidia—an unprecedented one-day loss for any firm on Wall Street. The downward spiral took hold after Chinese startup DeepSeek announced a low-cost AI assistant that rapidly soared to the top of Apple’s App […]

In a bold move that signals a shift towards private sector-driven innovation, President Donald Trump has unveiled a groundbreaking initiative that promises to reshape America’s financial landscape. The announcement of a $500 billion investment in artificial intelligence infrastructure marks a pivotal moment in the nation’s pursuit of AI dominance and economic growth.

On Friday, Peter went live to discuss the first trading week of Donald Trump’s second term. Throughout the episode, he describes the dangers of excessive consumption and how global investment in AI might sedate the economy in the short run. He also explains the recent drop in the U.S. dollar and gives his unfiltered take […]