Peter Schiff's Inflation Warning, Justin Wolfers' Critique of Trump's Economic Team, Kevin O'Leary's Market Insights, And More: This Week In Economics

As we wrap up another eventful week, let’s take a look back at some of the most significant stories that made headlines. From Peter Schiff’s warnings about inflation to Justin Wolfers’ skepticism of Trump’s economic team, and a record-breaking interview between Elon Musk and Donald Trump, there’s a lot to unpack.

Peter Schiff’s Inflation Warning

Renowned economist and Bitcoin critic, Peter Schiff, warned that a combination of lower interest rates and a recession could lead to a surge in inflation. Schiff believes that larger federal budget deficits and a weaker dollar, both potential outcomes of a recession and lower interest rates, could fuel higher inflation.

Read the full article here.

Justin Wolfers’ Critique of Trump’s Economic Team

Renowned economist Wolfers expressed doubts about the competence of Trump’s economic team and the potential impact of his policies. Wolfers criticized the caliber of economists willing to serve under Trump and his approach to policy-making.

Read the full article here.

See Also: Gold Prices Hit All-Time Highs Of $2,500 As Traders Jump On Rate-Cut Train: Mining Stocks On The Move Friday

Peter Schiff’s CPI Criticism

Schiff also made headlines by denouncing the July Consumer Price Index (CPI) as a “fraud”. Schiff attributed the modest 2.9% year-over-year increase in the CPI to a significant drop in used car prices and argued that the index fails to reflect the rising costs of essential expenses.

Read the full article here.

Kevin O’Leary’s Market Insights

Kevin O’Leary, chairman of O’Leary Ventures, shared his insights on a range of issues, including inflation, the economy, the election, and his thoughts on Tesla Inc. TSLA CEO Musk. O’Leary noted that the market is now deliberating whether there would be a 25-basis-point or 50-basis-point cut in September.

Read the full article here.

Musk and Trump’s Record-Breaking Interview

The highly anticipated interview between Elon Musk and Trump reached unprecedented levels, with over 1.3 million listeners tuning in despite a delay due to a massive Distributed Denial-of-Service (DDoS) attack. During the conversation, the Republican presidential candidate attacked his Democratic opponent saying Vice President Kamala Harris is replicating his no tax on tips policy. 

Read the full article here.

Read Next: S&P 500 Eyes 6th Straight Win, But Investor Sentiment Remains Cautious Ahead Of Data Deluge, Walmart Earnings And Other Key Events

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Anan Ashraf.