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Tag Archives: inflation

Peter Schiff: The Box That the Federal Reserve Is In

Jerome Powell and Janet Yellen testified jointly before the US Senate last week. Inflation was a big topic of conversation. The Fed chair continued to insist that the central can fight inflation if necessary, but that it really isn’t a problem we need to worry about right now. In his podcast, Peter Schiff said the truth is inflation is a problem. And when it comes to dealing with that problem, the Fed is in a box. It will never pick a fight that it can’t win.The Federal Reserve balance...

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What If We’re Measuring Inflation All Wrong?

Inflation is top of mind right now for many consumers, businesses and investors. Responding to a recent Bank of America survey, asset managers around the world agreed that inflation is the number one market risk, displacing COVID-19 for the first time since February 2020. Another survey conducted this month found that over three quarters of Americans were either “very” or “somewhat” concerned about inflation. Perhaps not surprisingly, younger Americans who have not yet reached their peak...

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At Some Point You Gotta Pay the Piper: SchiffGold Friday Gold Wrap March 26, 2021

Every time the economy gets into trouble, governments and central banks react the same way. They slash interest rates and loosen monetary policy.  This gooses the economy — temporarily. But when the next crisis comes, it takes an even bigger dose of extraordinary monetary policy to revive the economy. The Fed has pushed things into the future several times, but as Friday Gold Wrap host Mike Maharrey explains, at some point you’ve got to pay the piper. In this episode, he also discusses...

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Peter Schiff: When Paul Krugman Talks, Nobody Should Listen

The latest Biden/Democrat stimulus bill is just the beginning. There is more government spending coming down the pike. That means more money printing. But Paul Krugman says not to worry. It didn’t cause a big jump in CPI last time and it won’t this time either. Peter Schiff talked about it in his podcast. He said when Krugman talks – nobody should listen.With the ink barely dry on a $1.9 trillion stimulus bill, reports are circulating that the Biden administration is about to unveil...

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The professor vs. the markets

Turkey’s authoritarian leader sacked the central bank head just months after appointing him to the position: When Turkey raised interest rates more than market expectations last week, Naci Agbal was cheered by investors who viewed the move as more evidence that the central bank governor was willing and able to pursue a conventional monetary policy. Two days later, he was out of a job — the third governor President Recep Tayyip Erdogan has sacked in less than two years...

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Will the Fed follow its rhetoric or its rule?

In recent years, the Fed has increasingly adopted the rhetoric of 1960s Keynesianism.  Go for growth.  Don’t worry about a bit more inflation.  Jobs are much more important.  Given that 1960s Keynesianism gave us the Great Inflation, should we be worried about today’s rhetoric? Oddly, at roughly the same time that they adopted all this expansionary rhetoric, the Fed switched to average inflation targeting, which makes 1960s-style expansionary monetary policy totally...

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Does Anybody Really Believe the Fed? SchiffGold Friday Gold Wrap March 19, 2021

The Federal Reserve held its March FOMC meeting this week. There were no changes in monetary policy, but there was plenty of talk. The question is does anybody really believe what the Fed is saying? SchiffGold Friday Gold Wrap podcast says the mainstream doesn’t seem to believe the Fed. And he doesn’t either. But for very different reasons.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You...

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Did people eat two dinners in the 1970s?

This Yahoo article made me smile: And so simply put, the Fed does not believe any pricing pressures in the economy will warrant a change in its interest rate policy for the next three years. To help explain this thinking, Fed Chair Jay Powell cited dinner norms in his press conference on Wednesday afternoon. “There very likely will be a step-up in inflation as March and April of last year drop out of the 12-month window, because they were very low inflation numbers,”...

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Peter Schiff: We’re Adrift in a Sea of Inflation

We’ve gotten quite a bit of economic data this week. Federal Reserve Chairman Jerome Powell insists inflation is anchored at 2%. But his assurances notwithstanding, a lot of the data signals inflation. In his podcast, Peter went over some of the numbers and concluded that inflation isn’t anchored at all. It’s anchors aweigh. We are adrift in a sea of inflation.Bond yields have continued to tick up this week. In fact, the yield on the 10-year Treasury topped 1.65% early Wednesday, hitting...

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Peter Schiff: This Is the Worst We’ve Ever Done on Trade

What is the ballooning trade deficit telling us about the US economy? Peter Schiff recently appeared on NTD News to talk about it. He said the US has never been worse on trade and it is a sign that we don’t have a recovering economy. In fact, we have a phony economy in danger of collapse.As Peter put it, the trade numbers for January “were a disaster.” The annual trade deficit for goods came in at an all-time high, increasing $3.4 billion to a record $221.1 billion. This broke the...

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