May Jobs Report Takes June Rate Hike Off The Table – SchiffReport

May Jobs Report Takes June Rate Hike Off The Table – SchiffReport


* It was a few weeks ago, following the release of the FOMC meetings, in which the various governors appeared quite hawkish in their tone
* They were talking about the resurgent U.S. economy, the strengthening labor market and that they thought it would be appropriate to raise interest rates in June
* As a result of that, the markets reacted, the dollar had a big rise, gold dropped
* Gold had risen to almost $1300 when everybody thought the Fed wasn't going to raise rates
* Now as soon as the Fed changed the conversation, and they put rate hikes back on the table, gold touched below $1200
* The dollar index got as high as 96 earlier this week
* But the catalyst for the rally of the dollar and the decline in gold was the Fed, and the anticipation of rate hikes coming this month
* In fact, in the days and weeks that followed the release of the unexpectedly hawkish FOMC minutes various Fed officials were out giving speeches
* Every one of them talked about how it was going to be appropriate to raise rates, how we are bouncing back from the unexpected Q1 weakness, and that now the Fed is finally going to resume normalizing rates
* The first time they raised rates was December last year; of course they talked about it all year before they finally went up by a quarter point
* If they went up by another quarter point in June of this year, it's still, it's still a pace much slower than Greenspan used
* He was moving up a quarter every time they met
* This would be a quarter every 6 months
* Even if the Fed were going to raise rates in June, that would have been the only hike of the year
* I didn't even believe that they were going to do it in Juneof
* If you listen to one of my recent podcasts at the beginning of the June rate hike talk, I was saying,
* "How can they talk about a June rate hike? They haven't seen the May jobs report, which will come out in the first week of June, and if that jobs report is weak, they're not going to raise rates
* And even if they did raise rates, it's too little too late
* It's not going to be good for the dollar, it's not going to hurt gold because the FOREX markets and the metal exchange markets have priced in far more rate hikes than the Fed could possibly deliver
* In fact if they did raise rates, that would be the end of the cycle and by the end of the year they would be cutting rates
* The market is anticipating a normalization
* And if you remember, too, it wasn't just that the Fed was going to raise rates, they were going to shrink the balance sheet
* Janet Yellen was saying she was going to get the balance sheet back down to where it started
* I was saying she was lying back then
* The balance sheet has not shrunk at all
* That is because the proceeds of every maturing bond have been reinvested
* Every nickel earned in interest has been reinvested also
* So the Fed hasn't even started to unwind the balance sheet, and they've barely raised interest rates
* But I did say that if we got a weak jobs report, that would clearly take rate hikes off the table
* I believe they were never on the table and that's exactly what we got June 3
* The Labor Department dropped a bombshell on the markets
* A relative weak report of 170,000 was expected due to the Verizon strike
* The actual number of jobs created in May was 38,000
* That is the lowest number in 6 years
* But it gets worse: they revised last month's number, which was also weaker than expected, from 200,000 to 123,000
* The expectation was that this number would be revised up
* They even revised down the month before by another 10,000
* You've got 123,000 jobs in April and just 38,000 jobs in May
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Avsnitt(1094)

Trump Starts the Race to Get Out of the Dollar

Trump Starts the Race to Get Out of the Dollar

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The Real Crash Is Finally Here

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21 Jan 58min

Strong Fundamentals and Technicals Send Gold and Silver to Record Highs

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13 Jan 59min

Precious Metals Start 2026 With Strong Gains

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10 Jan 58min

Year-End Special: My 2026 Economic and Market Forecasts

Year-End Special: My 2026 Economic and Market Forecasts

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1 Jan 48min

Silver Rocket, Bitcoin Breakdown: Why Metals Are Crushing Crypto (2025 Recap)

Silver Rocket, Bitcoin Breakdown: Why Metals Are Crushing Crypto (2025 Recap)

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27 Dec 202530min

Silver's Epic Rally Signals Bitcoin's Imminent Collapse

Silver's Epic Rally Signals Bitcoin's Imminent Collapse

Peter Schiff forecasts an imminent Bitcoin crash, critiques Trump's economic policies, and highlights the surging silver market in this episode of The Peter Schiff Show.The Peter Schiff Show Podcast - Ep 1054In this episode of The Peter Schiff Show, Peter Schiff dives deep into the implications of Silver's recent surge and the ominous signs of an impending Bitcoin collapse. With keen insights, he critiques the current economic landscape shaped by Trump's policies and discusses the ramifications of AI and automation on the job market. Schiff questions the reliability of government statistics, emphasizing the looming risks of inflation and the realities of the labor market. He also warns listeners about the dangers of understanding the cryptocurrency market, urging them to reconsider their investments in light of potential economic turmoil. This episode embodies Schiff's unwavering commitment to revealing the truth behind financial markets and advocating for sound investment strategies.Chapters:00:00 Introduction and Opening Remarks00:54 Holiday Plans and Podcast Schedule03:24 Silver Market Analysis07:49 Gold and Silver Investment Advice11:09 Jobs Report and Inflation Data22:18 Trump's Economic Policies and Critique33:41 AI and Automation Discussion34:59 The Flawed Logic of Anti-AI Sentiment35:50 Bernie Sanders and the AI Debate37:25 Trump's Media Ventures and Financial Maneuvers44:39 The Looming Bitcoin Crash50:38 Investment Strategies and Market Predictions59:31 Supporting Independent Music01:03:24 Final Thoughts and Holiday WishesFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#BitcoinCrash #SilverInvestment #EconomicPoliciesOur Sponsors:* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy

19 Dec 20251h 4min

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