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Eurodollar University’s Making Sense; Episode 65; Part 2: Is Jay Powell Right?

Summary:
65.2 The Fed is right about inflation (this time)———Part 2 Summary———US producer prices surged in the month of March. But Federal Reserve chairman Jay Powell said they won’t last, that they are “transitory”. HE IS RIGHT! But the reason he gives – the covo – is not correct. No, the reason is the same one since 2007: the global, silent depression. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It———

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65.2 The Fed is right about inflation (this time)

———Part 2 Summary———
US producer prices surged in the month of March. But Federal Reserve chairman Jay Powell said they won’t last, that they are “transitory”. HE IS RIGHT! But the reason he gives – the covo – is not correct. No, the reason is the same one since 2007: the global, silent depression.

———See It———–

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

———Hear It———

Vurbl: https://bit.ly/3rq4dPn
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PodcastAddict: https://bit.ly/2V39Xjr

———Ep 65.2 Topics———

00:05 US Producer prices for the month of March increased at the fastest pace in a decade.
01:01 A similar inflationary surge in PPI occurred in 2010-12 period.
02:25 In September 2011 Ben Bernanke warned that the PPI surges at the time were “transitory”.
04:43 Bernanke was correct that base effects and commodity prices raised PPI
07:01 Good inflation is brought about by full employment and is not “transitory”.
09:12 Jay Powell also says the PPI surge is “transitory”, but he blames COVID for it.
11:32 A chart potpourri of monetary measures confirming a meek (and pausing?!) reflation.

———Ep 65.2 References———

Scorching, Blistering, Highest In A Decade! Powell’s The Voice of Reason Here?: https://bit.ly/32kpNcW
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7

———Who———

Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the Ingmar Bergman of the pen, David Parkins

 


Jeffrey P. Snider
As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base. His company is a global investment adviser, hence potential Swiss clients should not hesitate to contact AIP

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