Make Kitco Your Homepage

July CPI release points to hyperinflation, not peak inflation at 5.4% - Todd Horwitz

Kitco News

(Kitco News) - July's consumer price index (CPI) data was released Wednesday, with headline CPI coming in at 5.4%, the same reading as June's. Todd Horwitz, chief market strategist at BubbaTrading.com, said that this is not the peak.

"I think it's going to get a lot higher. I think we're in a lot of trouble because of the policies of the Administration that's in power and of course, the Federal Reserve," Horwitz told David Lin, anchor for Kitco News.

Interest rates will have to rise as a result. In fact, they should already be much higher now, Horwitz said.

"I think we have a chance for hyperinflation and I think you'll see much higher inflation going forward unless they step up and allow these rates to be normalized and be where they should be, which is 4%, 5%," he said.

For Horwitz's views on gold and the stock market, watch the video above. Follow David Lin on Twitter: @davidlin_TV.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.