2025 would see a US dollar crisis that would crash the economy and send consumer prices and long-term interest rates soaring, says Peter Schiff
Peter Schiff is already predicting a doomsday scenario for 2025, as he is of the opinion that the coming year will see the US dollar tumbling down the hill, leading the US economy into a crash. If that is not enough, the veteran market analyst is also of the opinion that long-term interest prices would also see a sharp rise, that would ultimately lead to a major pressure falling on the Americans' pockets.
Will the US dollar sink in 2025?
Schiff, the chief economist and global strategist at Euro Pacific Asset Management, is of the opinion that an upcoming shift in the US Federal Reserve's strategy may in fact lead to an escalation in inflation levels than what it currently is, which could send the US economy into a whirlwind. Along these same lines, he is also concerned about the future of the US dollar and the overall national economy if the main currency of the West takes a sudden dive.
What could a US dollar crisis mean for the global markets
Schiff claimed that the Dollar Index closed at 100.67, and could easily sink below the 90-mark before year-end, which even puts the lows of 2020 to shame. This means that 2025 may not be a great year for the US dollar in the overall aspect, if things went on course as of the current scenario. A weaker dollar generally makes U.S. exports cheaper and more competitive in terms of the global markets, but it also carries along a major con that it makes imports more expensive, leading to consumer prices taking a hit for some selective sectors dependent on foreign imports.
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