Opening Statement from the August 2022 CCPM Forecaster

Opening Statement from the August 2022 CCPM Forecaster

Originally published on Jul 31, 2022

The Fed, Inflation, and U.S. Economy

After increasing rates in June by 75bp, as expected the Fed raised interest rates another 75bp on July 27...

Our 2022 estimate of U.S. economic growth has been cut to..., which is down from our previous revision of... made in the July Intelligent Investor. 

Oil & Gas

Oil and gas pricing continued to sell off after the July issue was released but has mounted a strong rally. Although...

Gold & Silver

As expected, gold and silver pricing sold off strong as investors anticipated the Fed’s July 27th rate hike. As a reminder, traders should keep in mind that...

China

Our 2022 estimate for China’s economic growth has been reduced to... This is far off from Beijing’s target growth rate of 5.5%. 

The lockdowns in China’s resulting from its zero-COVID policy have taken their toll on the economy. From March 1 through June 1, an estimated 35% of China’s population accounting for up to 40% of GDP remained in full lockdown. Despite reports that China is no longer in lockdown, we have compelling evidence to the contrary...

China is facing numerous problems that continue to worsen by the day. Structural problems within its real estate industry are spreading to the financial system...

We have never before witnessed the extent and severity of protests by Chinese citizens...