The King of Crypto Had No Clothes – Ep 856
The Peter Schiff Show Podcast
00:00
The Federal Reserve's Manufacturing Index for November Is Coming Out Negative
The Philadelphia Fed Manufacturing Index for November came out at minus 19 point four. That was below even the lowest estimate on the street because the consensus range went from minus 15 to minus five. All these numbers would be positive if the economy was in fact growing, but the fact that all these manufacturing numbers are coming out negative indicates that it's contracting. This is complicating the Fed's inflation fight because the one thing that would make that fight easier to win would be an increase in the supply of goods.
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