General

Treasury Secretary Janet Yellen said Thursday that Americans will likely see another year of “very uncomfortably high” inflation. “We have seen a very meaningful increase in gas prices, and my guess is that next month we’ll see further evidence of an impact on U.S. inflation of Putin’s war on Ukraine,” Yellen said. The Treasury secretary’s…

Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include most of the oil…

Gold prices have hit all-time highs, but industry heavyweights Jim Rickards, best-selling author, and Peter Schiff, CEO of Euro Pacific Capital, both think that the rally is far from over. Rickards’ analysis points the gold price to $15,000 by 2025. “I would put [gold at $15,000 an ounce before 2025,” Rickards told Kitco News. “If…

New York (CNN Business)Red-hot inflation in the United States may not cool off this year as much as many hoped, Goldman Sachs cautioned in a new report. “The inflation picture has worsened this winter as we expected, and how much it will improve later this year is now in question,” Goldman Sachs economists wrote in a client report…

Spiraling oil prices can ultimately lead the world into economic destruction. This is according to oil analyst Paul Sankey of Sankey Research. The Russia-Ukraine crisis is the primary mover of oil prices. By definition, economic destruction is a breakdown of an area’s economy that results from a crisis.  It occurs after a severe economic contraction…