Ep. 106 - Are We Already at 2% Inflation? | Latest PCE Data Suggests Rate Pause

With the Fed's next move looming, it's a high-stakes moment for Powell's legacy. Will he be remembered as the Fed Chair who steered us into a repeat of 2008 or as the inflation slayer who brought prices under control? Quinton follows the breadcrumbs and sees reasons for concern. Skyrocketing credit card balances, evaporating personal savings, the lock-in effect paralyzing housing. The data hints we may have already hit the Fed's 2% inflation target, but will that be enough to avoid recession? Or are we destined to relive past mistakes?

If you're curious about what may be on the horizon for the economy, this is the episode for you.

[00:00 - 01:46] - Breaking down the latest PCE inflation data

[01:46 - 02:47] - Americans spending beyond their means as prices rise

[02:48 - 04:03] - Depleting savings and record credit card debt

[04:04 - 05:31] - Ominous signs of an impending 2008-style crash

[05:32 - 06:37] - Will the Fed pause rate hikes?

[06:38 - 09:34] - Powell likely to face tough questions

[09:35 - 12:23] - Powell's legacy and motivation

Key Quote:

"As the Federal Reserve raises short term interest rates, that's the effective rate in which we're paying interest on the national debt. In some cases, our interest payment is so big, it starts to become a point where it's a burden on the economy.” - Quinton Harris

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