👉👉👉 Economist Peter Schiff Discusses Likelihood of a #fed #interestrate Cut in March
Economist Peter Schiff suggests that Federal Reserve Chairman Jerome Powell's decision to rule out a March rate cut may have increased the likelihood of such a cut. Schiff argues that the Fed's primary role is to create inflation and then feign efforts to combat it. According to him, this strategy allows the government to run significant budget deficits and supports financial markets.
In a series of posts on the social media platform X, Schiff shared his views on the U.S. economy, Federal Reserve policies, and the possibility of a March interest rate cut. Despite the Fed's recent decision to keep interest rates unchanged and Powell's statement that a March rate cut is unlikely, Schiff remains skeptical.
He criticized Powell's optimism about inflation decreasing, pointing out inconsistencies in Powell's reasoning, such as overlooking the rapid rise in actual rent compared to owners' equivalent rent. Schiff also highlighted Powell's commitment to maintaining inflation above 2%, despite the Fed's supposed policy of averaging inflation at 2% over time.
Additionally, Schiff observed that while the Fed signaled an end to rate hikes, it tempered expectations for when rate cuts might begin. He questioned how long it would take for the financial #community to recognize the severity of the impending recession and the growing inflationary challenges.
Source - news.bitcoin.com
