In the previous episode of The Higher Standard, Chris shared his less-than-charitable thoughts on the recently-passed Inflation Reduction Act, created by President Biden and the Democrats. The Act makes a 'down payment' on deficit reduction in order to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. Chris argued that the whole initiative seems to be based on a flawed understanding of the actual causes of inflation.

In today's episode of The Higher Standard, Chris offers more insights on what he calls the "Inflation Dysfunction Act," citing the theories and opinions of past economists to make his point that this is a flawed strategy.

Chris offers thoughts on the Federal Reserve's choice of either a 50 or 75 basis point hike at the September meeting, and why it's difficult to make a real prediction at the moment.

They share opinions of several economists that seem to reveal some seasonality that isn't being taken into account by the Fed, which could affect its decision.

They also dive into a Time Magazine headline indicating that gasoline demand in the US this summer has dropped below pandemic levels, which shows that Americans are driving less than they did in 2020, at the height of the COVID travel restrictions.

This is a show you do not want to miss! Join Chris for this fascinating conversation.

Enjoy!

What You’ll Learn in this Show:

• Why he still believes that the Federal Reserve could go with either a 50 or 75 basis point hike in the September meeting, depending on the results of the upcoming CPI and employment reports.
• Opinions of several economists that seem to reveal some seasonality that isn't being taken into account.
• Why gasoline demand in the US this summer has dropped below pandemic levels, showing that Americans are driving less than in 2020, at the height of the pandemic travel restrictions.
• And so much more...