Diamond News Archives
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These days, the Federal Reserve is walking a knife's edge.High inflation is forcing its hand, and to tame it, the Fed has returned to Quantitative Tightening, hiking rates by 0.25% and promising 6-7 more hikes within this year.But if the Fed hikes too much too fast, it risks driving the economy -- which has been slowing dramatically recently -- into recession.
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Despite inflation running at a 40-year high, the Biden administration is pushing ahead with plans to hike wages for federal contractors—effectively undoing a Reagan-era policy that was implemented to help curb inflation.
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- Category: News Archives
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In 2016, the city of Los Angeles had 28,464 Homeless. It passed HHH authorizing $1.2 billion to tackle the problem. Let's check in on the progress.
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"They're flying blind, and are too little, too late," Steve Hanke says in disbelief, an Applied Economics professor of John Hopkins University. "It's utter rubbish and nonsense" that Fed Chairman Jerome Powell sees supply chain issues as a root cause for inflation, he tells me, as we decipher the Federal Reserve's latest official statements on the shape of the U.S. economy.
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The price of gold hit an intra-day record high of $2,078.80/oz two weeks ago. Though the price has since retreated to $1,925/oz, GoldSilver.com's precious metals analyst Jeff Clark says that's just a healthy retracement and that he expects new record highs ahead. One reason for that is because M&A activity is finally heating back up in the gold mining sector.
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