Peter St Onge Podcast
Episode 40: Weekly Roundup 01.22.2024
Jan 22, 2024
In this podcast, they discuss the rising inflation rates and the factors contributing to it. They also talk about the impact of bank and hedge fund money on Wall Street, as well as the Federal Reserve's losses. The podcast explores the increasing federal debt in the US and the new budget agreement, and addresses California's proposed wealth tax. They also discuss rising inflation in the West and concerns about central banks.
19:08
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Quick takeaways
- Inflation is on the rise globally, fueled by government spending and economic challenges.
- The Federal Reserve's $114 billion loss highlights unsustainable federal spending and debt.
Deep dives
Inflation is Back and Higher than Expected
Despite previous predictions of low inflation, recent data shows that inflation is on the rise. The Bureau of Labor Statistics reported that headline CPI increased at an annualized pace of 3.7%, almost three times higher than the previous month. Core CPI, which excludes food and energy, also increased at an annualized rate of 3.8%. The so-called super core inflation, which excludes housing costs, is even worse, hitting almost 5% annualized. These inflation rates are higher than anticipated, signaling that inflation is not transitory as previously believed. The main factors contributing to this unexpected inflation include continued federal government spending and excess money circulating on Wall Street.
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