Is Inflation in the US Actually 16%?! with John Williams of Shadowstats

WTFinance, Released on 11/16/22 (Recorded on 10/24/22)

On todays episode of the WTFinance podcast I had the pleasure of speaking with John Williams, founder of ShadowStats, a website that calculates the “actual” inflation rate. During our conversation we talked about what is wrong with our current measurement, why inflation may actually be 16%, whether gold moves with this measurement of inflation and more. I hope you enjoy!

0:00 – Introduction
0:26 – What is wrong with our current measurement of inflation?
6:05 – Gold moving with inflation?
9:10 – When else did we experience this type of inflation?
11:35 – What was actual inflation like through the 2010’s?
13:00 – Any indicators to watch what real CPI might be in the coming months?
21:00 – How does the FED reduce Q1?
21:45 – Impact on precious metals
23:45 – One message to take away from interview?

Walter J. “John” Williams has been a private consulting economist and a specialist in government economic reporting for more than 30 years. His economic consultancy is called Shadow Government Statistics ( He tracks and reports economic data using the methodologies formerly used by government agencies prior to changes being made to make the reported data look more favorable, and estimates the true, real inflation rate to be significantly higher than the reported rate. He received a bachelor’s degree in economics, cum laude, from Dartmouth College in 1971, and was awarded a master’s degree in business administration from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar.

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