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Professor Steve Hanke calls Powell delusional over "transitory inflation". He believes it will be sustained.
We think we'll start seeing higher retail shelf prices in the very near future to confirm the permanence of 2021's inflation.
While President Biden and Federal Reserve Chair Jerome Powell chairman insist rising prices will prove short-lived, their effects are still being felt.
U.S. housing starts increased in June by more than forecast, suggesting residential construction is stabilizing despite lingering supply-chain constraints and labor shortages. Initial home construc…
Without significant monetary and regulatory reform, our recovery from the Covid-19 recession will not only not cure these negative conditions, but will only set up the U.S. for our next recession, one that will almost certainly be even more severe.
Inflation is what we now have: 5.4% in the U.S. and 2.5% in the U.K., with more to come. This acceleration of prices is more than central banks were expecting. Recently they’ve begun to backpedal on commitments to their strategy of “lower for longer,” made when low inflation was expected to continue almost indefinitely. That’s a start, but a deeper rethink of when and how to use QE is called for.
Amid a slew of weak housing sales data, weak mortgage applications, crashing homebuyer sentiment, and 11-month low homebuilder sentiment, analysts still expected both housing starts and permits to rise MoM in June... they were half right!
Gold prices edged higher on Tuesday as concerns over the economic damage from surging cases of the Delta coronavirus variant, and a dip in U.S. Treasury yields, pushed the metal above a one week low hit in the last session.
The dollar traded at multi-month highs in Europe Tuesday, continuing to benefit from its safe haven status amid concerns rising Covid-19 will hinder the global economic recovery. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 92.953, climbing to levels not seen since...
The top U.S. financial regulators convened on Monday to expand discussions on a regulatory framework for stablecoins.
Chinese gold imports have nearly returned to pre-pandemic levels and the world's biggest gold market continues to recover.According to the latest data reported by the World Gold Council, China imported 67.6 tons of gold in May. That was 65 tons higher than May 2020 and only three tons lower than May 2019, before the coronavirus pandemic gripped the country.
California Governor Signed an Unprecedented $12 Billion To Address Homelessness: BloombergJul 20, 2021 - 05:23:50 PDT
More than a quarter of the nation’s homeless population lives in California, with most of them living outdoors rather than in shelters.
Nearly $90 Billion Wiped Off Crypto Market As Bitcoin Drops Below $30,000Jul 20, 2021 - 05:10:37 PDT
Bitcoin fell below $30,000 for the first time since June 22, dragging other digital coins lower.
Fresh signs of a cash crunch at China Evergrande Group sent shares and bonds of the world’s most indebted developer to new lows on Tuesday, stoking fears of broader market contagion.The property giant’s stock tumbled to the lowest level since April 2017, extending its two-day loss to 25%. Several of Evergrande’s local and offshore bonds sank...
They are among about 100,000 seafarers stranded at sea beyond their regular stints of typically 3-9 months, according to the International Chamber of Shipping (ICS), many without even a day's break on land. Another 100,000 are stuck on shore, unable to board the ships they need to earn a living on.
Caught Between China and the U.S., Asian Countries Stockpile Powerful New MissilesJul 20, 2021 - 05:02:19 PDT
Asia is sliding into a dangerous arms race as smaller nations that once stayed on the sidelines build arsenals of advanced long-range missiles, following in the footsteps of powerhouses China and the United States, analysts say.
On Monday, the United States again accused China of cyberattacks. But these attacks were highly aggressive, and they reveal that China has transformed into a far more sophisticated and mature digital adversary than the one that flummoxed U.S. officials a decade ago.
"The United States ganged up with its allies to make unwarranted accusations against Chinese cybersecurity," said the spokesman, Zhao Lijian.
U.S. Treasury yields fell on Tuesday morning, with the 10-year rate dipping to the 1.7% mark, extending a fall from the previous session amid Covid-19 variant fears.
PBS Frontline recently released a documentary titled "The Power of the Fed." Peter Schiff watched it and offered his analysis of the show on his podcast. He said the documentary missed the real power of the Fed — the power to destroy.