Economist and gold advocate Peter Schiff has suggested that the Federal Reserve raise interest rates rather than cut them, even if that causes a market crash, PANews reported. He acknowledged that this could cause a stock and real estate crash and spark a recession.
Peter Schiff expressed his views on the U.S. economy, Federal Reserve policy, and the market rebound on his podcast and social media platform X. He noted that decades of Fed policy have made a recession inevitable.
He believes that the Fed should not cut rates, but rather raise them, even if that triggers a market crash, which he sees as a "necessary crash" to correct the economy. Despite this, market sentiment is growing more confident that a rate cut is imminent, perhaps even before the September meeting.