The Fed Brought a Knife to an Inflation Gun Fight - Ep 873
The Peter Schiff Show Podcast
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Goldinox - The Worst Day of the Week
The year over year increase in producer prices instead of coming out at 5.5 which had initially been expected it came out at 6.5. Even if you take out food and energy and trade services the increase was 0.6 that's triple the 0.2 percent that had been expected. The markets did react to it by going down this was the worst day of the week for the doubt was down 430 points about one and a quarter percent, even bigger decline for the NASDAQ which was down about 2 percent. This shows that the Fed is making less progress on inflation than the Fed or investors believe and that rates have got to go higher for longer in order to put out this fire.
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