Peter Schiff: Inflation to Get Worse

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The U.S. annual inflation rate eased slightly to 6.4 percent in January, down from 6.5 percent in December, according to the latest data from the Bureau of Labor Statistics (BLS). This was higher than economists’ expectations of 6.2 percent.

On a month-over-month basis, the Consumer Price Index (CPI) rose 0.5 percent.

Economist and CEO of Euro Pacific Capital Peter Schiff predicts inflation could go back up in the coming months, "I think we're gonna start to see hotter numbers in future months. And that's going to throw cold water on the idea that the Fed is finished and can start cutting rates based on victory over inflation."

The reason he thinks inflation will get worse is, he says, "All the years of quantitative easing put a lot of inflation into the pipeline. And the Fed has barely withdrawn that liquidity, I think we're still seeing the impact of that, especially the inflation that it unleashed during the COVID pandemic. So I still think we have a ways to go to catch up. "

"Meanwhile, government policy is still inflationary, we have very expansionary fiscal policy, the government is running enormous budget deficits, that's highly inflationary. "

He says, "as long as people keep on spending, I don't see any way we're gonna get down to 2%."
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Excellent, excellent report. Especially after the financial insanity coming out of the mouth of the Fed. Peter should come on every week.

kathym
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Thank you Don Ma and NTD Business News 📰. Appreciate all y’all do to bring us the Truth News 📰. All day long Yahoo 😅

RobertRAbell
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First non-bot to comment. Sad.
The real horror is that the masses think that 2% is okay. How clueless. Only 0% is okay. Any 2% should be instantly followed by NEGATIVE -2%. But people are even more self-destructive than that in their blind acceptance. 20% should be followed by direct moves to achieve NEGATIVE -20%. Even though the B.L.S. only publishes a number like 10%. All right: 10% should be followed by direct moves to achieve NEGATIVE -10%.

Bill_Woo