Powell Sings a Different Tune – Ep 736

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 1 October 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

* Political theater plays out over the debt ceiling.
* US was biggest gainer from low interest rates, but will be biggest losers when rates are high.
* IRS continues its attack on lower and middle income Americans.
* Getting into bed with the government will get you screwed.
* Cost of having a bank account will get more expensive.

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Transcript

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0:00.0	The Peter Ships Show.
0:09.2	Today's podcast is sponsored by True Nye Engine.
0:12.5	True Nye Engine helps fuel the cells' energy engines.
0:16.3	It maintains cellular metabolism and even supports hard health in combination with a healthy
0:22.6	lifestyle.
0:23.6	And now you can save 10% on your first purchase at TrueNye Engine.com slash Peter when you
0:30.6	use the promo code Peter.
0:32.9	These statements have not been evaluated by the Food and Drug Administration.
0:36.5	This product is not intended to diagnose, treat, cure or prevent any disease.
0:42.4	On Tuesday, the not-so-dynamic duo of Jerome Powell and Janet Yellen testified before
0:50.4	the United States Senate.
0:51.8	Well, the two were back up on the hill today to repeat the performance this time before
0:58.4	the House of Representatives.
1:01.0	And I think the most significant difference between the opening statement that Powell made
1:07.6	on Tuesday.
1:09.0	And the one that he made today was the conspicuous absence of any kind of warning of inflation
1:17.6	being hotter than expected.
1:19.9	If you remember on Tuesday, I talked about the fact that Powell came out and basically
1:25.3	all but admitted that the Fed was wrong and that inflation was lasting longer than they
1:30.7	thought, that it was higher than they thought, and that if it persisted and inflation continued
1:38.2	to confound the Fed in its magnitude and its duration, that the Fed was standing ready
1:44.9	to use its tools to combat it.
	...

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