US Inflation has now been above the Fed's target level for 64 consecutive months, averaging 4% per year since 2019.
So why is the Fed expanding its balance sheet again (QE)?
They should be doing the exact opposite – hiking rates and shrinking their balance sheet.#EndtheFed pic.twitter.com/l3yVSPV98S
— Charlie Bilello (@charliebilello) July 19, 2026
The cost of financing US debt is rapidly rising:
On Tuesday, the US sold 30-year Treasury bonds at a 5.06% yield, the highest auction result since 2007.
At the same time, the 30-year Treasury yield jumped back above 5.00%, though it remains below the May 20th peak of 5.20%, the… pic.twitter.com/tKNzQ2cOyD
— The Kobeissi Letter (@KobeissiLetter) July 19, 2026
🇺🇸🇮🇷 The worst case for this war now has a number: $250 oil and 11% inflation by the fall
Edward Dowd ran money at BlackRock and now models exactly this kind of shock, and his May call, $125 oil peaking then rolling over, played out in print.
The new worst case: Gulf energy… pic.twitter.com/PVwKMXWIyk
— Mario Nawfal (@MarioNawfal) July 19, 2026
57% chance Iran fully closes its airspace by September. https://t.co/hQOey5qIh4
— NewsWire (@NewsWire_US) July 19, 2026
Gold has been stuck since January, and almost nobody explains why correctly.
When the Iran conflict hit, it set off a desperate scramble for dollar liquidity.
Oil traders caught in blown-up positions had to sell whatever they could. Gold was the easiest thing to sell.
At the… pic.twitter.com/BeHS7sibUQ
— Jeffrey P. Snider (@JeffSnider_EDU) July 19, 2026