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Inflation as a Centralizing Force
by David Brady, Jr.
Mises.org
Which came first: the chicken or the egg? Inflation or the managerial class?
Inflationism is as much a tool as it is an ideology and a phenomenon. Inflation, of course, promotes consumption at the moment as prices change faster than incomes. It benefits borrowers at the expense of lenders. It benefits first and earlier receivers—those closest to the money spigot—at the expense of later receivers. It also provides the perfect tool for the managerial class that James Burnham and Sam Francis describe for the further expansion and centralization of power.
Their theory rests upon the idea that business and the state have become fused through a class of bureaucrats and managers working hand-in-hand. The Soviet Union and Nazi Germany were obvious examples, but Burnham also saw the New Deal as another. A flaw can be found in Burnham’s identification of the New Deal as part of the managerial revolution he observed, though.
Two Best Investments to Beat Inflation, According to Warren Buffett
by Adam Palasciano
Yahoo! Finance
Buffett has an estimated net worth of $165 billion as of March 31, 2025, according to Forbes. It’s clear that he knows more than a thing or two about how and what to invest in and how to shield your money against the effects of inflation.
Here are Buffett’s two investment recommendations for anyone looking to beat inflation.
Inflation On Wall Street Versus Main Street
by Ivan Yotzov, Nicholas Bloom, Philip Bunn, Paul Mizen, Gregory Thwaites
CEPR
Since 2021, developed countries have experienced a significant inflation episode. This column uses Decision Maker Panel data from UK CEOs and CFOs to study firms’ inflation perceptions and expectations around monthly official inflation releases. Firms’ expectations are most responsive when inflation coverage in the media is elevated, suggesting salience is a key issue, as the media focuses attention on data releases. Furthermore, firms respond to changes in headline inflation rates and not to surprises relative to professional forecasts. The results highlight a distinction between financial markets (‘Wall Street’) and firms (‘Main Street’), which should inform modelling of economic behaviour.
Fed’s Kugler Warns of Prolonged Impacts of Tariffs On Inflation
Rolling announcements, possible retaliation, impact on expectations all to hit CPI
by Eamonn Sheridan
Forex Live
Federal Board Governor Kugler in Q&A now:
- Fed does not comment on administration policies but looks at how it will impact mandates for prices and jobs
- There may be reasons why tariffs have more prolonged effects
- Tariffs on aluminum for example effect almost every sector of the economy through supply chains, will take longer to filter through
- Rolling announcements, possible retaliation, impact on expectations could also yield a more prolonged effect on inflation
- Reallocation effects could produce more inflation if the U.S. invests in areas where it does not have a comparative advantage
Boom! Trump’s “Higher Than Expected” Tariffs Will Be an Epic Shock to Our Standard of Living and to the Global Economy as a Whole
by Michael Snyder
The Economic Collapse Blog
The global trade war is officially heating up. President Trump just unveiled a series of tariffs that were higher than expected, and business leaders all over the world are absolutely stunned. For many of those that have made a killing importing goods into the United States, their businesses have now been ruined. For many of those that manufacture their goods right here in the United States, President Trump’s tariffs are very welcome news. The tariffs that Trump has just announced will go into effect right away, and stock futures are plunging as I write this article. During the economic chaos that is ahead, there will be winners and there will be losers. But without a doubt, the global trade war that has now fully erupted will certainly be an enormous shock to the global economy.
It is being reported that Trump’s plan includes a 10 percent baseline tariff rate and “additional reciprocal tariffs” on dozens of nations that have been imposing very high tariffs on U.S. imports…
Gold Rises to New High On Tariff, Inflation Worries with Bullish Trend ‘Firmly Intact’
by Ines Ferré
Yahoo! Finance
Wall Street’s bullishness on gold doesn’t appear to be wavering as the precious metal hit yet another all-time high.
On Tuesday, futures (GC=F) made their 19th intraday record of the year, surging above $3,170 per ounce before paring gains ahead of President Trump’s reciprocal tariff plan announcement expected on April 2.
“Within the commodities complex, long Gold presents the obvious hedge for risky market exposure in our view, especially since the bullish medium-term trend dynamics remain firmly intact,” JPMorgan analysts said in a note on Tuesday.
Most notable is the rapid pace at which gold has risen, notching its best quarterly performance in nearly 40 years.
U.S. Inflation Swaps Price in Big Short-Term Tariff Impact, Flag Recession Risk
by Reuters
Kitco
NEW YORK, April 1 (Reuters) – Investors in financial derivatives called U.S. inflation swaps are betting that President Donald Trump’s tariffs will have a hefty short-term impact on consumer prices that will recede in the next few years as recession concerns escalate.
Inflation swaps are used to hedge against a rise in prices. They have two participants: the receiver and payer. The receiver seeks protection against rising inflation, while the payer, typically a bank, assumes the risk tied to inflation.
Specifically, the receiver agrees to exchange with the payer a fixed amount for floating payments tied to the Consumer Price Index (CPI) for a given notional amount and period of time.
The Week Ahead: Inflation Data and Big Bank Earnings On Deck
Plus, a swath of major financial names are set to report earnings
by Jake Scott
Schaeffer’s Investment Research
A wave of inflation data and Federal Reserve commentary awaits investors in the second week of April. While a fresh earnings season gears up, several notable names are set to report. Delta Air Lines (DAL) will headline midweek, offering a look at travel demand ahead of summer. Then on Friday, major financial institutions will step into the spotlight with quarterly results from BlackRock (BLK), JPMorgan Chase (JPM), Morgan Stanley (MS), and Wells Fargo (WFC).
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
Monday, April 7, features consumer credit data.
Tuesday, April 8, brings the National Federation of Independent Business (NFIB) small business optimism index.
Wholesale inventories and the minutes from the March Federal Open Market Committee (FOMC) meeting are due Wednesday, April 9.
Trump’s ‘Liberation Day’ Unfolds with New Reciprocal Tariffs Sparking Fear, Uncertainty
The trade war is expected to intensify Wednesday with the introduction of expansive global duties on goods shipped to the U.S.
by Rob Wile
NBC News
President Donald Trump is expected to roll out the largest set of new trade barriers in generations Wednesday — calling it “Liberation Day” — shortly after U.S. stock markets close.
What exactly Trump has in store, and how it will impact the economy, still isn’t fully known. He’s already announced his intention to impose tariffs on imported autos and auto parts, and he suggested the fresh duties would be both reciprocal with other nations and target specific sectors like pharmaceuticals and computer chips.
Trump’s announcement is expected at 4 p.m. at the White House Rose Garden. But the ongoing doubt about exactly what Trump would decide on — he and his team were reportedly still debating major elements of the tariffs in the days and hours before the president’s announcement — has generated unease and confusion among businesses and consumers alike.
Trade Fragmentation to Curb Global Growth, Raise Inflation, ECB’s Schnabel Says
by Reuters
Kitco
FRANKFURT, April 2 (Reuters) – Global inflation could surge in case of trade fragmentation caused by a trade war and growth is likely to take a hit, European Central Bank Isabel Schnabel said in a presentation on Wednesday.
A severe disruption in global trade could push up inflation by several percentage points in the initial years while ‘mild decoupling’ would have an impact below 1%, which could take years to dissipate, Schnabel said in her slides.
“Trade fragmentation is structurally harmful for economic growth and inflation,” she said.