Peter's Blog

The US Government’s Spending Addiction Is a Big Problem for the Fed

The US government is addicted to spending money. And the Federal Reserve is Washington DC’s pusher. When we talk about inflation, we usually focus on money creation by the Fed. After all, that is the definition of inflation. But the Fed has to keep creating money in order to monetize the massive federal deficit. And […]

Peter Schiff: The Worst of Both Worlds — Inflation and Recession

The CPI cooled in July. The White House and others in the mainstream continue to insist there is no recession. Is everything looking up? Peter Schiff was on Fox Business with Liz Claman, Kenny Polcari (Slatestone Wealth Peak Market Strategist), and Teddy Weisberg (Seaport Securities) to discuss the Fed’s attempt to fight the inflation it […]

CPI Cools Modestly; How Will the Fed Play This?

As expected, the Consumer Price index cooled a bit thanks to falling gasoline prices. The question is will this give the Federal Reserve the excuse it needs bow out of the inflation fight? The Consumer Price Index for July was up 8.5% year-on-year. That was down from June’s 9.1% print and slightly below the 8.7% […]

Fed Balance Sheet Reduction Not Delivering as Promised

The Federal Reserve is all-in on the inflation fight. Or is it? While everybody focuses on interest rate cuts, the promised Fed balance sheet reduction isn’t going quite as promised.

Jobs, Jobs, Jobs! SchiffGold Friday Gold Wrap Aug. 5, 2022

Jobs are on everybody’s mind as the July employment report comes out. Will the labor market show more cracks? Or will it give the pundits more room to spin the idea that we’re not really in a recession? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the labor market and […]

Peter Schiff Damn the Recession! It’s Rate Hikes Ahead!

After the second straight negative GDP print in Q2, the markets began anticipating that the Federal Reserve would pivot away from its monetary tightening. But a few choice words from some Fed members this week caused thoughts of a pivot to pivot. As Peter Schiff put it in his podcast, it appears to be damn […]

Spin Cycle: SchiffGold Friday Gold Wrap July 29, 2022

This week, the Federal Reserve raised interest rates another 75 basis points despite a second straight quarter of negative GDP growth. Meanwhile, Congress is debating a big government spending bill to “reduce inflation.” In this week’s Friday Gold Wrap podcast, host Mike Maharrey tries to unspin all of the spin and government propaganda to make […]

Fed Balance Sheet Reduction: Too Little Too Late

Another month in and the Fed is still struggling to implement Quantitative Tightening (QT). According to the plan the Fed outlined last May, the central bank should be shrinking the balance sheet by at least $47.5B a month, spread between $30B in Treasuries and $17.5B in MBS. That’s not happening.

Peter Schiff: Americans Paying for Big Government Through the Inflation Tax

Rapidly rising prices put the squeeze on everybody’s wallets. A recent study showed that inflation is hitting rural Americans particularly hard. According to the Iowa State University report, people in rural areas now spend 91% of their income on expenses alone. Peter Schiff recently appeared on Rob Schmitt Tonight to talk about the pain of […]

Is the Federal Reserve at the End of Its Rope?

The Federal Reserve delivered another 75 basis point interest rate hike at its July FOMC meeting. This pushes the federal funds rate over the 2% threshold to between 2.25% and 2.5%. The mainstream media emphasized the size of the hike. One headline called it “a second super-sized hike,” with many other mainstream pundits noting that […]