Hawkish Fed Narrative Slowly Changing – Ep.  384

Hawkish Fed Narrative Slowly Changing – Ep. 384

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Fed Responsible for Most Recent Move Up
I think what's really responsible for this most recent move up is the Fed comments. Now maybe Trump can take credit for those, maybe President Trump was able to get Jerome Powell's mind right after all, when it comes to rate hikes, although, if you look at the coverage from Jackson Hole, most people think that Powell stood strong and was resisting the calls from Trump to go easy on rate hikes and he was standing by the Fed's commitment to raising rates. But that was not really what was said. Not just by Powell, but by other Fed officials who were there who were giving interviews from Jackson Hole.
2% Today Is Not the Same Thing as 2% in the 1990's
To me it was clear, and I mentioned this on my previous podcast about the Fed being willing to let the inflation genie out of the bottle, that the Fed is basically back-tracking on rate hikes that the markets may have anticipated for 2019, by talking about how interest rates are closer to normal now. That 2% today is not the same thing as 2% in the 1990's, not wanting to invert the yield curve, waiting for the whites of inflation's eyes before they actually come out blasting by doing everything that it takes.
Pound of Cure Beats an Ounce of Prevention
I think that the Fed has basically said we are going to sit back, we're not going to be pre-emptive on inflation fighting, we don't think inflation is going to break out, but if we're wrong, then we'll do whatever it takes. Basically the Fed's new attitude is, "Why take an ounce of prevention when you can always use a pound of cure?" Because when it comes to inflation, that ounce of prevention, given how frail the economy actually is and what a big bubble we have, that ounce of prevention could be lethal so let's just forget about that. Somehow we're going to be able to slam the economy with a pound of cure, we're going to be able to get aggressive on fighting inflation if for some reason it ends up being much worse than we thought.

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Episoder(1085)

SchiffRadio Podcast Episode 20

SchiffRadio Podcast Episode 20

Episode 20: Explosive Daily Upside Reversal in Gold Portends Potential Bottom * Weekly jobless claims higher than expected * Fewer people in the workforce * Job openings declining * Consumer sentiment survey at 7-year high? * false confidence in the economy due to oil prices * QE4 will be the mother of all QE * Gold and silver market reversal on Friday * Silver stocks up $4% * Gold stocks were up 6% Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

17 Nov 201420min

SchiffRadio Podcast Episode 19

SchiffRadio Podcast Episode 19

Episode 19: Low-Paying Jobs And Student Debt Undermining Marriage * There are more single Americans than ever * Job quality and debt are disincentive to marriage * Government policy promotes generations of single mothers * Two out of every five mothers are single * If the economy is getting better, why is this happening? Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

13 Nov 201414min

SchiffRadio Podcast Episode 18

SchiffRadio Podcast Episode 18

Episode 18 Synopsis * Obamacare architect Jonathan Gruber admits fraud promoting Obamacare: * "They proposed it and that passed, because the American people are too stupid to understand the difference." * Administration's argument to Supreme Court about constitutionality of Exchanges claims "typo" * The average American may not be able to make decisions for others, but they know what is best for themselves Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

13 Nov 201420min

SchiffRadio Podcast Episode 17

SchiffRadio Podcast Episode 17

Episode 17 Synopsis * Japanese yen fell to 7-year low * A result of Abenomics * Speculation that planned increase of sales will be delayed * price moving with strength of dollar * Chinese Yuan up vs Yen and euro * Next few months may expose Fed's false narrativ Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

12 Nov 201410min

SchiffRadio Podcast Episode 16

SchiffRadio Podcast Episode 16

Episode 16 Synopsis: * Looking under the 5.8% unemployment number headline * Biggest increase was in food service * Labor force participation rate is low * Employment costs are high * Gold & gold stocks rally * European markets encouraged by Mario Draghi's stimulus talk * If the economy disappoints, U.S. may look toward stimulus, too Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

8 Nov 201430min

SchiffRadio Podcast Episode 15

SchiffRadio Podcast Episode 15

Episode 15 Republican victory a reality only because recovery is a fantasy Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201426min

SchiffRadio Podcast Episode 14

SchiffRadio Podcast Episode 14

Episode 14 The U.S Recovery is as Real as Ireland is a Part of the U.K. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201429min

SchiffRadio Podcast Episode 13

SchiffRadio Podcast Episode 13

Episode 13 Synopsis: Treats on Wall Street Equal one Big Trick. Belief that QE worked sparks optimism: * New record high in Dow Jones & S&P * NASDAQ highest since 2000 * Dollar index closed at a 4-year high * Yen at a 6-year low * Gold/Silver prices at a 4-year low * Gold Stocks at a 10-year low or more Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201428min

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