Peter Schiff Critiques Powell’s Statements On Economy And Fed Policies
Economist and prominent gold advocate, Peter Schiff, shared his perspective on the U.S. economy and Federal Reserve policies through posts on the social media platform X.
Schiff expressed skepticism regarding Federal Reserve Chairman Jerome Powell’s announcement that a March interest rate cut is unlikely, suggesting that this move might have increased the likelihood of it happening to support the stock market. Schiff criticized Powell’s optimism on inflation, pointing out discrepancies in his assessment of rent trends and questioning the Fed’s commitment to its inflation averaging policy.
In another post, Schiff highlighted the perceived role of the Federal Reserve, stating that its actual job is to create inflation, deny its existence, falsely attribute its cause, blame external factors, and feign efforts to combat it. According to Schiff, the Fed intentionally fosters inflation to enable substantial government deficits and sustain financial markets. He emphasized the contradiction between the Fed’s actions, which contribute to inflation, and its public stance, which portrays a commitment to fighting it.
Clever Robot News Desk 4th February 2024