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The Consumer Price Index (CPI) cooled in June. Year on year, the CPI increased by 3%. That was trumpeted as great news with some pundits suggesting perhaps 3% is low enough. It’s not.
I’ll say this about the Federal Reserve: it tends to follow the script. Everybody expected that the central bank would hike rates at the July FOMC meeting, and that’s exactly what it did. The Fed boosted the federal funds rate another 25 basis points to 5.25 to 5.5%.
The number of corporate debt defaults in 2023 has already exceeded the total number of defaults last year. According to data from Moody Investment Services, 55 American-based companies defaulted on loans through the first half of 2023. That was a 53% increase over the total number of defaults in 2022.
People are confused about the definition of inflation. And because they don’t really know what inflation is, they can’t grasp what’s causing it. Or how to fix it. That’s why it’s imperative that we reclaim the meaning of inflation.
With the June CPI report coming in even cooler than expected, the mainstream perspective seems to be that the Federal Reserve is winning the inflation fight. But in his podcast, Peter Schiff explains why the dollar is telling a different story.
Can the Federal Reserve navigate a narrow path and slay price inflation while steering the economy to a soft landing? During an interview on CNBC Squawk Box, financial analyst Jim Grant expressed his doubts. He compared Jerome Powell’s task to Captain Chelsey Sullenberger’s when he was forced to land a US Airways plane on the […]
The Federal Reserve got just what it needed – an even cooler-than-expected Consumer Price Index (CPI) report card for June. This could give the central bank a plausible excuse to back off its inflation fight. But make no mistake, inflation isn’t dead or buried.
In a recent podcast, Peter Schiff warned that we could be on the verge of a further breakdown in the bond market and that a bear market in bonds could also maul US stocks and the dollar. Financial commentator and investment guru Jim Grant has similar concerns. In a recent interview on Odd Lots Podcast, […]
Most people believe members of the Federal Reserve are highly trained experts who are imminently qualified to run monetary policy. Guided by this perception, the mainstream treats Fed pronouncements as gospel. But if you compare Fed projections to actual outcomes, it looks like they’re just guessing. In fact, you would probably get more accurate results […]
Despite doing nothing at the June meeting, Federal Reserve officials continue to talk tough about fighting inflation. The anticipation of another rate hike created headwinds for both stocks and gold this week. But Friday Gold Wrap host Mike Maharrey thinks something is amiss. In this episode, he talks about the disconnect between the central bankers’ […]
