Peter Schiff

All 12 FOMC members voted for a symbolic 25-basis-point rate hike, just to prove that they're willing to back up their words with action. But the hike is too little, too late to undo the damage their loose monetary policy has already caused. Buy gold. https://t.co/CY02g7N0Nj.

According to Don Jr., the hundreds of thousands of dollars a Russian oligarch with ties to Putin paid toward his lavish wedding was just an innocent gift from a friend, with no expectation of anything in return from the president. It must be nice to have such generous friends.

I will be reacting live to today's Fed decision on The Claman Countdown on Fox Business immediately following the Warsh press conference. Even if the Fed hikes 50 basis points, it's too little, too late to derail the inflation train. You must get aboard the gold train. @LizClaman

What if Democrats also promise a $5,000 check to all adult Americans, only subject to a means test? Will a Republican Senate vote against it. Will Trump veto it? Trump is the best ally big government loving Democrats have. Get ready for exploding deficits and soaring inflation.

Bessent doesn't know that the U.S. Constitution leaves the power of the purse to Congress. He also claims $5k "dividends" can be sent to every adult American without any impact on the budget. Republicans must call for his resignation as Treasury Secretary.

According to our Treasury Secretary Bessent, there is no fundamental difference between the stock market and Trump's meme coin. Stock returns are not related to earnings, dividends, or book value, but based solely on the ability to sell a stock above its initial purchase price.

The discussion about AI's threat to jobs misses the point that we don't want jobs because we want to work. We want jobs because we want to consume the goods and services those jobs produce. If we can get that stuff without anyone having to do the work, that's a win for humanity.

Since a few quarter-point rate hikes won't slow the rise in inflation, how high do you think the Fed will raise rates before giving up? If fighting inflation results in a recession, will the Fed switch to fighting the recession, even if that exacerbates the inflation problem?

What if by 2029 the national debt is $50 trillion and the average interest cost is 8%? Interest on the debt would be $4 trillion per year, over 60% of federal tax revenue, and annual budget deficits would likely exceed $5 trillion. This is optimistic, as it assumes no recession. This also assumes no government bailouts of banks, GSEs, pension funds, homeowners, student loans, state governments, municipalities, etc. that may be adversely affected by higher interest rates, such as mortgage rates above 10%, which is highly unlikely.

10-year Treasury yields hit 5.04%, a 20-year high and 30-year yields hit 5.4%, a 24-year high. The rise is neither temporary nor close to over. It's the start of a long-overdue reset that'll return interest rates to levels incompatible with current asset prices or debt burdens.

The 10-year Treasury yield is now 5%. Don't be fooled into thinking this is the top. It's more likely just a launching pad to 6% and beyond. Since inflation will rise even faster, today's selloff in gold is another gift. Buy now! https://t.co/5rf3AY4BWl

Trump claims that the $5,000 "dividend" is going to happen 100 percent, "because our country is taking in trillions and trillions of dollars." But that's another lie. Our country is losing trillions and trillions. Nearly $4 trillion since Trump took office for the second time.

@mitchellvii No one should trust Democrats or Republicans to bring prices down. Both parties support financing deficit spending by creating inflation.

Trump won the presidency in 2024 as it was easy for him to blame high inflation on Biden, even though his own policies played a major role in creating the problem. However, after two years of inflation getting worse, voters won't let Trump and the Republicans off the hook again.

I'm Banned From Fox News for This Forecast... It Just Came True https://t.co/gdvnlOPA9y

I'm Banned From Fox for This Forecast... It Just Came True New episode. https://t.co/NvFucC0662

Sept. consumer sentiment sank to 47.8 from 51.7 in August, while year-ahead inflation expectations jumped from 4% to 4.6%. Warsh may think inflation expectations remain anchored at 2%, but the typical consumers who actually buy the products whose prices are rising so much don't.

Traders now believe if the Fed hikes rates next week, long-term bond yields will fall, as the hike will improve the Fed's inflation-fighting credibility. But the expected hike will be far too little to win the inflation fight, so long-term yields will rise regardless of a hike.

Markets are now pricing the odds of a rate hike next week at 88%. This should all but ensure a hike. If so, the odds of a second hike in Dec have risen to 74.2%. This knee-jerk rally in markets likely won't last, especially since the rate hikes won't be enough to lower inflation.

The effective fed funds rate now is 3.63%, just above the 3.4% official inflation rate, but well below the actual rate. Even if the Fed hikes rates 75 basis points by year-end, the effective rate would rise to 4.38%. But if inflation rises faster, that’s effectively a rate cut.

The August headline CPI came out exactly as expected, up 0.4% on the month and 3.4% YoY. However, the monthly core rose by 0.3%, above the 0.2% expected, but the 2.4% YoY rise matched expectations. If the Fed doesn't hike, it's more proof that 2% inflation is a lie, not a target.

Trump's next book should be titled "The Art of the Lie."

Trump claims he's made America so much money that the government can afford to pay every adult American a $5,000 "dividend." But during the 20 months he's been in office, our national debt has grown by almost $4 trillion. How do you declare a dividend when you've lost that much?

Treasury yields continue to rise overnight, with the 10-year yield now 4.97% and the 30-year 5.38%. Markets still seem complacent, as most regard 5% on the 10-year as a ceiling. Instead, it will likely be a launching pad, sending yields soaring to levels not seen since the 1990s.

Trump bragged that more Americans are working now than ever before. But that's usually the case under every president as there are more Americans. Relative to our larger population, however, fewer Americans are working now than ever before. Plus, many who are have multiple jobs.

The 10-year Treasury yield is at 4.96%, a 19-year high. But the big difference between now and then, other than the huge increase in the amount of debt we have to service, is that 19 years ago yields were still falling from a peak near 16%. Now they're rising from lows under 1%.

No matter what your title is in the Trump administration, your job is the same: flatter Trump. Talk about how great Trump is, how much he's accomplished, how strong the economy is, etc. Trump also tells everyone he's the greatest and that everything he's done is the greatest.

August producer prices rose 0.4%, exactly as expected, but YoY they rose 5.4%. Not only was that slightly more than expected, but it's significantly higher than the 4.7% YoY rise the prior month. Inflation is headed in the wrong direction, and the Fed is way behind the curve.

Yesterday Trump claimed that the price of just about everything is coming way down. In reality, the price of just about everything is going up. In particular, oil is now above $100, and the price the Treasury pays to borrow money is now 4.9% for ten years and 5.34% for thirty.

Even though bond investors know that, even in the unlikely event Republicans retain control of the House, Trump’s promise to borrow over $1 trillion more to buy votes won't be kept, the promise itself is so reckless that they’re dumping Treasuries, sending yields to new highs.