Peter Schiff's Inflation Warning, 'Rich Dad Poor Dad' Author On Crypto Investment And IMF Chief Calling For More Voting Power For China: Top Economics News From This Week

This week was marked by economists and high-profile investors voicing their concerns about the future of the U.S. economy. The subjects of inflation, debt, and potential recessions were high on their agenda, stirring debates about the current state and trajectory of the global economy. Here’s a recap of some of the weekend’s top stories:

Peter Schiff Criticizes Interpretation of Core CPI Data

Respected economist, Peter Schiff, sparked a debate by challenging the interpretation of recent core CPI data. He argued that those viewing the data as evidence of inflation nearing the Federal Reserve’s 2% target are missing the real concept of inflation. Schiff links inflation to the excessive demand created by an increase in the supply of money and credit. He warns that the rise in public and private debts could push inflation even higher. Read the full article here.

2024 Recession Predictions

A recent survey reveals a stark difference in the 2024 recession predictions of America’s CEOs and Federal Reserve officials. While Fed officials insist on a 0% chance of a recession, CEOs forecast an 84% likelihood. This divergence follows the Federal Reserve’s aggressive interest rate hikes during their ongoing tightening phase. Read the full article here.

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Jeff Gundlach Foresees Potential Recession Amid Bond Market Unrest

Billionaire investor, Jeff Gundlach, founder of DoubleLine Capital, has warned that the current turbulence in the bond market could potentially signal an economic recession. He cites the rapidly diminishing gap between the 2-year and 10-year U.S. Treasury yields as a significant indicator. Read the full article here.

Robert Kiyosaki Advises Investment in Bitcoin and Other Commodities

Best-selling author Robert Kiyosaki, renowned for his book “Rich Dad Poor Dad,” has urged individuals to invest in Bitcoin and traditional assets as a safeguard against potential economic challenges. He warns that hyperinflation means the purchasing power of money goes down and advises people to invest in assets like gold, silver, and Bitcoin to hedge against such scenarios. Read the full article here.

IMF Chief Calls for More Voting Power for China

Kristalina Georgieva, the head of the International Monetary Fund, has called for reforms that would potentially grant Beijing more voting power within the organization. She acknowledges the necessity for the institution to adapt to changes in the global economy, including China’s significant economic rise. Read the full article here.

Read Next: Marjorie Taylor Greene Warns GOP Against Expelling Matt Gaetz: ‘Absolutely Will Not Be Tolerated By Republicans

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Posted In: NewsEconomicsMediaEconomy newsJeff GundlachPeter SchiffRich Dad Poor DadWeek in Review
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