It is clear that Powell is actually talking about fighting stagflation. The Fed's only tool is to reduce demand. Until supply chains are normalized especially for food & energy markets the Fed has no choice but to reduce demand to meet supply levels. As bad as deflation is, 15% unemployment is still preferable to 25% inflation.
YES, definitely, but I would prefer 1-2 hours as there is so much information to absorb. Moscow's UGLY invasion of Ukraine doesn't sit well with Putin's desire for his plan to change the gold standard. Seems a wrong chess move, and a poor tactic. ??
Thanks Matthew, very insightful and cuts through all of the government's bravo sierra, and provides the common sense that people should educate themselves with.
There is a way out of this Reduce the levels of greed across all sectors. It comes down to people in Small, Medium and Large business simply wanting more money for items they produce or sell. ENOUGH. Get a handle on inflation by getting a handle on greed throughout all sectors. PROBLEM SOLVED.
I am from Poland agree his real deal perfect knowledge prescious about6 Banking Cartel. I keep on adding silver coins it is no different then in Germany leading to Auschwitz and killing and stealing gold even from the tooth. This race who you cannot mention are twisted crooks and world parasites. They create all control all distroy all and in the proccess making huge bussines out of all sides then make the world suffer. After all human suffering they will bend world his -story and make themselves victims of their own crime as Henrry Kissinger.
@@mikeknight1118 We (the human race) should have honest "weights and measures", that's biblical. The reality is far from that, unfortunately. Hoping it will someday be true... Dan 2:44.
It's shocking people believe the U.S./Federal Reserve is just going to sitback quietly and allow China /Russia to establish their own Reserve Currency...As we speak US/Nato are going to expand the War in Ukraine creating WW3...Simultaneously Weaponizing the US Dollar by artificially driving up It's Value to cause a Sovereign Debt Crisis around the World forcing Nations to back the U.S for financial safety & security....
Great guest! First time hearing someone speak so quickly and yet still be incredibly easy to understand. Lyn Alden speaks just as fast but in my opinion is more difficult to follow. Gareth Soloway speaks slower but is just as easy to understand as this guy. All great guests!
He was firing on all cylinders..more like him..either he is great at bs..or this is a great example of someone who "knows wtf they're talking about" see how it rolls off the tongue..it's because it's in his mind..great interview
Well said Matthew. This is the first time I have seen you interviewed on Kitco. Well done, Well said. Can"t argue with easily verifiable facts. Looking forward to your next appearance.
If the FED really wanted to do something, they would start unloading their $9 trillion balance sheet and stop purchasing securities, like they 'promised' in Spring... but they won't.
They aren't purchasing securities, or at least the balance sheet asset balance continues going down. I would love to see big moves down too, but it's on fixed schedule they disclosed mths ago.
Mr. Piepenburg's interviews are pure gold. Check out his other two interviews, one in Sept 21 other March 22 on Palisade Gold Radio. I was eagerly expecting to see him there again with Tom but Kitco got him first.
Kudos for Matthew for telling it like it is. I’m having a slow realization that Powell and the Fed are responsible for all this economic hardship we’re facing. Unfortunately power and greed rule the world.
US has it pretty easy compared to rest of the world Food price in South Korea up +40% in last 6 months. Meat and dairy +100% US prints free money and party during covid. Now makes the rest of the world pay for it
There’s plenty of blame to go around. Sanctions against Russia pushed up energy prices as OPEC supports Russia by slowing production. During Covid the supply chain companies laid off a bunch of staff while demand was low, they have not been able or willing to rehire staff now that demand has picked up just like the airlines. China has screwed up the supply chains by shutting down their cities chasing zero Covid policies. The Fed created a housing bubble and asset bubble, that is pushing down now. Do we still have those tariffs on China Trump put in? That made everything 30% more expensive. The Fed is one piece of a large messed up puzzle of our broken economy.
Never heard of this guy but loved the interview, great insights, great assessment of what’s going on, loved the unapologetic, straightforward way he answered the questions
Crypto is bringing a different revolution in the world economy. people who are optimistic investors earn consistently.. others will just sit and watch.
Fed isn’t going to pivot. You can take that to the bank. You think inflation is high now, just wait a few more months! 😂 .75/1.00 September .75/1.00 November .75 December (Merry Christmas!
Correct, it is not the end of the US, but it is definitely the end of the US standard living. Your gov is lying to you and you should prepare for very hard times in the future.
He is spot on. Whenever any country has printed so much fiat currency they always have to revert back to printing more of it. You simply cannot escape the massive mistake of printing so much debt in the first place. They let it go on far, far too long.
How much really is the US national debt, $30 trillions.....? If we pay $1 every second, it will take 32 years to payback $1 billion. $1trillion will take 32,000 years to be paid. $30 trillions will take 960,000 years to pay.......and the USA is only 245 years old....! Not counting interest, and the principal keeps growing with every new war, spending bill, etc...
"There are not Profiles in Courage at the FOMC" put that on a shirt! "The Athenian lawmaker Solon decreed it a crime for any citizen to shrink from controversy... I am asking your help in the tremendous task of informing and alerting the American people" -JFK This man is doing just that, kudos Kitco News.
I hear this so often... "80% of all equities are owned by the upper 10%" . And then they claim that a calling market will crush the middle class and below! No one will escape, but it is the 10% that will get crushed. The poor were not jumping off skyscrapers in the 1920's. It was the rich then and a CFO now!
I think the FED is fully committed to MMT and it doesn't care about money supply. they feel like they can control prices with interest rates and the balance sheet. the problem is the lead/lag of the data and the policy moves......they are flying blind and, like we have been seeing lately, they will become more erratic and reactionary.
That's interesting. It's really all a bet now, will we see higher inflations rates and destroyed economy, or do we see higher inflation in the following years with house prices going even higher
