Economy>Inflation
Powell Says Recession ‘Certainly a Possibility’ as Fed Is Determined to Hike Rates to Tame Inflation
Federal Reserve Chair Jerome Powell testified in Congress on June 22 that the central bank remains determined to keep hiking interest rates high enough to cool the red-hot inflation, acknowledging that recession is “certainly a possibility” but insisting the American economy is robust enough to withstand tighter financial conditions. With decades-high inflation running “well above” the Fed’s longer-run target…
Read MoreJohn Kerry: ‘We Absolutely Don’t’ Need to Drill for Oil Despite Soaring Gas Prices
The Biden administration’s climate czar, John Kerry, proclaimed that despite record-high gas prices, the United States doesn’t need to drill for more oil or natural gas. Speaking during a forum, Kerry said that Republicans and some analysts have suggested that “we need more drilling” and “we need to go back to coal.” He then argued: “No, we…
Read MoreDimon Warns of US Economic ‘Hurricane’
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments come a day after President Jo Biden met…
Read MoreGREAT VIDEO ON INFLATION FROM MR TUCKER
Coronavirus hyperinflation risk looms, buy gold: Peter Schiff
The extreme measures taken by the U.S. government and the Federal Reserve to combat the COVID-19 pandemic could push the U.S. into an episode of hyperinflation and boost gold, according to Peter Schiff. The White House and the Senate reached a $2 trillion deal early Wednesday on the third phase of a relief package that extends cash to the individuals,…
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