As the 2024 election approaches, economists are speculating on the potential impact of a Donald Trump victory on U.S. inflation. Predictions suggest that a second Trump term could lead to higher tariffs and increased deficits, among other policies, potentially driving inflation upwards. While economic forecasting is not precise, these predictions are based on previous policies and anticipated future actions that could shape economic conditions.

The global surge in solar power adoption is significantly increasing the demand for silver, which is essential for making photovoltaic (PV) panels due to its superior electrical conductivity and thermal efficiency. With silver prices reaching their highest in a decade, mining companies are ramping up production to meet this demand. Last year, global investment in solar PV manufacturing skyrocketed to approximately $80 billion, representing 40% of the world’s clean technology manufacturing investments, according to the International Energy Agency. Notably, China has more than doubled its investment in solar PV manufacturing from 2022 to 2023. This investment has contributed to a 50% increase in global renewable capacity last year, with solar PV accounting for three-quarters of this growth, marking the fastest expansion in 30 years.

The April 2024 Consumer Price Index (CPI) report, scheduled for release on May 15 at 8:30 a.m. ET, is anticipated to reflect a continuation of this year’s relatively higher inflation trends, with headline inflation expected at 0.4% and core inflation at 0.3%. These figures, according to models from the Cleveland Federal Reserve and forecasts from Kalshi, suggest inflation will remain above the Federal Open Market Committee’s (FOMC) annual target of 2%. Given these conditions, and with another CPI release set for the day of the FOMC’s June meeting, it is unlikely the FOMC will consider interest rate cuts before July, potentially extending further depending on economic indicators such as job market conditions. This scenario supports the expectation that the Federal Reserve might delay any easing of monetary policy if inflation remains stubbornly high.

Could gold be the key to solving America’s debt crisis?