Hotter Inflation Chills Stock Market- Ep 874
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 26 February 2023
⏱️ 57 minutes
🧾️ Download transcript
Summary
· The inflation genie is impossible to put back in the bottle.
· CPI and PPI are lagging for a number of reasons.
· Beaten down stocks of 2022 enjoyed a short-lived dead cat bounce in 2023.
· Consumer spending in January surged after a record decline in tax revenue.
· The PCE is the most inaccurate way to measure inflation and it’s no coincidence that it’s also the Fed’s favorite way.
· The progress the Fed claimed to have made against inflation is already lost.
· The inverted yield curve is now even more inverted.
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Transcript
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| 0:00.0 | The Peter Shiff Show. |
| 0:09.5 | Today's podcast was recorded yesterday. |
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| 0:49.7 | During my last podcast, I mentioned that I was surprised at how resilient the stock market |
| 0:55.6 | was in the face of very disappointing news on inflation. |
| 1:01.0 | The week before we had gotten disappointing news on the CPI and then last week, it was |
| 1:07.8 | the PPI. |
| 1:08.8 | Both of these inflation measures came out hotter than expected and in my opinion, it indicated |
| 1:16.2 | a trough in so-called disinflation. |
| 1:19.6 | This is what Fed Chair Powell was referring to with respect to the fact that the Fed was |
| 1:24.0 | winning its battle against inflation because even though we still had inflation higher than |
| 1:31.4 | the Fed's 2% target, it was coming down. |
| 1:35.0 | We were seeing a sequential decline in month over month inflation numbers, year over year |
... |
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