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Tag Archives: CPI

Peter Schiff with Tucker Carlson: Inflation Only Has One Way to Go!

Last week, we got another big jump in consumer prices with the February CPI data. Peter Schiff appeared on with Tucker Carlson to talk about the rampant inflation. He said it’s only going to get worse. Inflation only has one way to go.Up.Tucker said Peter should feel vindicated. He’s been right on inflation all along. Peter emphasized that inflation didn’t just happen overnight.Inflation has been a problem for a while. We just didn’t care about it when it made stocks go up or real estate...

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Bad News and Really Bad News: SchiffGold Friday Gold Wrap March 11, 2022

We got the February CPI data yesterday. There is some bad news in the report and then there is some really bad news. In this episode, SchiffGold Friday Gold Wrap Host Mike Maharrey breaks it all down. He also talks about gold’s rollercoaster ride this week in the context of inflation and the Russia-Ukraine situation.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on...

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Inflation Up 0.8% Month-on-Month and Shows No Sign of Slowing

The latest seasonally adjusted inflation rate for January was 0.8% month over month. The non-seasonally adjusted annual rate came in at 7.87%. Both of these numbers were slightly above expectations.Unlike last year, where one component made up the bulk of the move, the past several months have shown increases more evenly spread across the CPI. This shows that inflation continues to become more widespread. And there is no sign it is slowing down.The YoY chart is even more concerning. The...

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CPI Hits 7.9%; And It’s Worse Than That

The Consumer Price Index data for February just came out. It was smoking hot yet again with prices up 0.8% month-on-month and 7.9% on an annual basis. Keep in mind, this was before the big spike in oil prices due to the Russian invasion of Ukraine.And inflation is even worse than the official government numbers suggest.As you digest the CPI data, remember that the government uses a cooked CPI formula that understates the actual rise in prices. As economist André Marques put it, inflation...

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St. Louis Fed Pres. Bullard Lets the Cat Out of the Bag: The Fed Doesn’t Have the Stomach for an Inflation Fight

St. Louis Federal Reserve President James Bullard unwittingly let the cat out of the bag and revealed the central bank doesn’t have the stomach to do what’s necessary to take on surging, persistent inflation. After January’s CPI data came in even hotter than expected, Bullard shocked markets by calling for a full 1% rate hike by July. As CNBC reported, his comments sent stocks “on a wild ride” as futures markets began to price in as many as seven quarter-point rate hikes in 2022. That...

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Producer Price Increase Doubles Expectations in January

Federal Reserve Chairman Jerome Powell “retired” the word “transitory” as it relates to inflation back on Nov. 30. Just two-and-a-half months later, we’re seeing a new word bandied about to describe inflation — persistent.Less than a week after the January CPI data came in even hotter than anticipated (again), we got yet another signal that persistent is a much better word for the inflation situation. Producer prices (PPI) doubled expectations, charting the biggest increase in eight...

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Peter Schiff: The Inflation Tsunami Is Just Getting Started

After CPI came in hotter than expected yet again in January, Peter Schiff appeared on Fox Business along with Chief Investment Officer and Portfolio Manager of Solutions Funds Group Larry Shover. Peter said that the inflation tsunami is just getting started and the Fed is powerless to fight it.With the hot inflation print for January, the markets are now pricing in a 50 basis point rate hike in March. Peter said that won’t be enough.If we still measured inflation the way we did 40 years...

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Comparing Two Predictions of Inflation

On February 17, 2021, economist David Beckworth and columnist Ramesh Ponnuru, in an op/ed titled “Stop Worrying about Inflation,” wrote: Hence the new round of inflation hand-wringing. The Harvard economist Lawrence Summers raises the prospect of “inflationary pressures we have not seen in a generation, with consequences for the value of the dollar and financial stability.” Olivier Blanchard, the former chief economist for the International Monetary Fund, warns that...

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Uh-Oh! SchiffGold Friday Gold Wrap Feb. 11, 2022

The Federal Reserve still seems to be hoping that inflation will just go away on its own or that it can jawbone it down by projecting a few little rate hikes. But the Consumer Price Index data keeps dashing its hopes. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the January CPI and the Fed’s proposed “fight” against inflation. He also discusses the demand forecast for silver this year.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the...

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Unrounded MoM CPI: 0.65% – Price Increases Are Widespread

The latest seasonally adjusted inflation rate for January was 0.65% month over month, with a non-seasonally adjusted annual rate of 7.48%. Both of these numbers came in above expectations.As hypothesized last month, it was very possible that Omicron temporarily restrained inflation in December and a rebound should be expected. It did not take long for the rebound to occur!As shown in the chart below, Covid cases blasted higher starting in late December and into January. Cases have since...

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