Peter Schiff, an economist and advocate for gold, has issued a stern warning about the Federal Reserve's upcoming policy decisions. He believes the Fed is about to repeat past mistakes by cutting interest rates, despite them still being too low, and returning to quantitative easing (QE). Schiff argues that these moves will lead to more debt, higher consumer prices, and ultimately a weakened U.S. dollar. He warns that as the dollar's value drops, inflation will surge, especially since increased dollar supply may shift trade deficits towards asset purchases rather than treasuries.
Schiff further highlighted the impact on borrowers, particularly in the mortgage market, suggesting that rate cuts may not lower borrowing costs as expected. He predicts mortgage rates have likely already reached their lowest point and will rise despite the Fed's actions. According to Schiff, these policies could lead to a major commodity rally and elevate inflationary pressures, potentially causing a broader economic downturn.
#BinanceLaunchpoolCATI #FTXSolanaRedemption #BinanceTurns7 #BinanceLaunchpoolHMSTR $BNB