Fed's Shocking Move: They WILL Crash The Entire US Economy? | Peter Schiff

2 years ago
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Fed's Shocking Move: They WILL Crash The Entire US Economy? | Peter Schiff
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â–ºIn this video, Peter Schiff discusses a question asked to Federal Reserve Chairman Jerome Powell about the recent rally in the stock market and whether Powell is concerned about it potentially easing financial conditions. Powell did not directly address the question, but instead emphasized the Fed's commitment to fighting inflation and noted that the terminal rate of interest, or the high watermark that Federal Open Market Committee members are projecting, continues to rise. Powell stated that 17 out of the 19 FOMC members currently believe that the terminal rate will peak above 5% by the end of 2023, with a range of 5-5.25%. Powell also indicated that he does not believe the pace at which interest rates rise is important, but rather the ultimate level to which they must rise and how long they must stay high before they can come down. Schiff argues that the low interest rates seen in recent years were emergency policies put in place due to the 2008 financial crisis and COVID-19, and should not be expected to return. He also expresses skepticism that the Fed will be able to effectively control inflation and prevent a recession, as it does not have the cooperation of the US government in terms of cutting spending and raising taxes.

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â–º Special Thanks & Credit to:
Peter Schiff :
https://www.youtube.com/c/peterschiff

Disclaimer: This video is for educational and entertainment purposes only. I am not a financial adviser. Please do your own research and consult with a professional before making any investment decisions.

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