Peter Schiff: Dollar Decline Means Lower Inflation Is Transitory
The decline in the US dollar's purchasing power on international markets suggests that inflation may not be as under control as the mainstream perspective suggests, according to economist Peter Schiff. The dollar index fell below 100 for the first time and hit its lowest level since April 2022 last week. Schiff argues that the drop in the Consumer Price Index (CPI) has primarily been driven by the strength of the dollar, which acts as a tightening mechanism. However, as the dollar weakens, it could lead to a revival of price inflation, meaning the recent cooling in CPI may be transitory.
Peter Schiff: Dollar Decline Means Lower Inflation Is Transitory
The decline in the US dollar's purchasing power on international markets suggests that inflation may not be as under control as the mainstream perspective suggests, according to economist Peter Schiff. The dollar index fell below 100 for the first time and hit its lowest level since April 2022 last week. Schiff argues that the drop in the Consumer Price Index (CPI) has primarily been driven by the strength of the dollar, which acts as a tightening mechanism. However, as the dollar weakens, it could lead to a revival of price inflation, meaning the recent cooling in CPI may be transitory.
The global forecast for the Asian markets is murky following recent volatility, with crude oil prices providing support in what has been an otherwise tough month. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to split the difference.The TSE finished modestly lower on Friday following losses from the financial shares and property stocks.For the day, the index sank 15.09 points or 0.49 percent to finish at 3,061.35 after trading between 3,057.84 and 3,089.78. Volume was 1.39 billion shares worth 1.30 billion Singapore dollars. There were 285 decliners and 184 gainers.
A Telegram spokesman declined to comment on the bond issue or the amount of the debt the company has due. The spokesman said Telegram’s equipment and bandwidth costs are growing because it has consistently posted more than 40% year-to-year growth in users.
