Episode 141

Published on:

16th May 2023

Inflation Isn't What You Think, Tipping is Out of Control and Pot Calling the Kettle

The number of Americans filing new claims for unemployment benefits have jumped to a 1-1/2-year high, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month. With demand cooling, inflation pressures are subsiding. Data from the Labor Department indicates that producer prices rebounded modestly in April, leading to the smallest annual increase in wholesale inflation in more than two years.

In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.

They discuss a Labor Department report showing that the consumer price index (CPI), which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate.

Chris and Saied look at comments from JPMorgan Chase CEO Jamie Dimon that markets will be gripped by panic as the U.S. approaches a possible default on its sovereign debt, calling the default "potentially catastrophic" for the country.

They also offer some thoughts on a statement by New York Federal Reserve President John Williams, who cautioned that interest rate increases will take a while to work their way through the economy before inflation returns to an acceptable level.

Join Chris and Saied for this fascinating and informative conversation.


What You’ll Learn in this Show:

  • Why services inflation is really consumer discretionary spending more than anything else.
  • Why housing prices are excluded from the Labor Department’s CPI report.
  • The odds of a Fed rate cut this year.
  • Why the Fed's 'stress tests' for banks failed.
  • And so much more...


"Jamie Dimon warns panic will overtake markets as US approaches debt default" (CNBC via Instagram)

"The family behind First Citizen's Bank is $1 billion richwer since SVB" (Bloomberg Business via Instagram)

"AirBnB stock craters - founders lose $4 billion in one day" (Forbes via Instagram)

"Inflation rate eases to 4.9% in April, less than expectations" (CNBC)

"Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease" (CNBC)

"Fed’s John Williams says rates could be increased if inflation doesn’t come down" (CNBC)

"Worries linger about financial stability following bank rescue, Fed report shows" (CNBC)

"US weekly jobless claims hit 1-1/2-year high; inflation subsiding" (Reuters)

"Brits are being offered no-deposit 100% mortgage loans for the first time since 2008" (CNBC)

"We May Be Getting Used to High Inflation, and That’s Bad News" (The Wall Street Journal)

"Icahn, Under Federal Investigation, Blasts Short Seller" (The Wall Street Journal)

"Inflation Eased in April but Remains Stubbornly High" (The Wall Street Journal)

"Can Inflation Fall Fast Enough for the Fed?" (The Wall Street Journal)

"How the Fed’s stress tests failed to stop a banking crisis" (Fortune)

"Monthly Mortgage Payments Could Surge 22% If US Defaults" (Bloomberg)

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

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About your host

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Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.