Peter Schiff and Andy Brenner joined Liz Claaman in ‘The Clam Clamedown’ to discuss the newest state economy.
The Euro Pacific Asset President Economist Peter Schiff expressed some federal reserve criticism and sounded alarm during a look last Wednesday “The Claman Countdown. ”
Schiff’s comments soon after the Federal Open Markets Committee (FOMC) wrapped in the latest Japanese meetings, to select Benchmark in the Central Bank’s interest at its current level.
The Federal Reserve Chain Jerome Powell’s chain later gives media talks about the decision.
Schiff says Host Liz Claman the “biggest Takeaway is that Powell’s primarily claims they don’t know what happens.”
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Economics and Political Commentary Peter Schiff (Eamonn M. McCormack / Getty Images for London Blockchain Conference / Getty Images)
“They never know what happens to consumer prices. They don’t know what happens at work,” Schiff argues. “I don’t even think that their predicts educated owners of better thinking.”
The Benchmark Federal Funds funds will remain on a current part of 4.25% to 4.5% after the most recent Fed Decision.
FOMC policies also released a summary of economic growths, known as called “Dot plot,” members expect two of 2026 and 2027.
Jerome Powell, Chairman of the Federal Reserve, at a news conference after a meeting at the Federal Open Market Committee in Washington, DC, Nov. 7, 2024. (Ting Shen / Bloomberg by Getty / Getty Images images)
They also project PC PCE to climb 3% this year before reducing 2.4% of 2026 and 2.1% next year. The actual gross domestic product (GDP) was seen slowly by 1.4% in 2025 before growth of 1.5% of 2027. Before development of 627.
Schiff says he thinks that inflation can be “higher” than expected by the Fed and that the The US economy be “a more vulnerable.”
He recognized the fed “Brought their inflation to a small” for nearly terms and “their predictions to grow” but added that such changes are not enough. ”
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According to Schiff, the “great problem” for inflation is “All inflation chicken released by the FED cards of characters from foreign countries.
“We have a lot of dollars sloshing around the world thanks for years and years to come to interest rates, and many more dollars to go outside the asset,” Schiff told Claan.
“You see a global exodus from US stocks, from US bonds, and all cash returns home, bid prices.”
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Schiff predicts the US to experience the collision “with a shrinkage and higher drinking occurring at the same time, which is really complex to do something about any problem.”
Reducing interest rates cannot help the US economy, he also argues, labeling them as “cause.”
“The solution involves a higher interest in interest,” he said. “Now, I understand very painful, given the economy we make, built on the foundation of cheap money.”
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“It means that stock prices have fallen, real estate prices come down, companies fail,” he added. “There are bankruptcies. There are defaults. There is a distraction, perhaps a worst financial crisis than in 2008, but all that should be worse.”
The US is on the road to “Run the inflation“That would be” hyperinflation, “Schiff foretold.
The most recent meeting of FOMC is the fourth time it is together this year.
FOMC is also selected not to change the rate of three previous meetings in January, March and May.
The Marriner S. Eccles Federal Reserve Building in Washington, DC, June 25, 2024. (Ting Shen / Bloomberg by Getty / Getty Images images)
In late May, the development of personal consumption admissions shows a 0.1% month-to-month and one year increase in April inflation.
Eric Evorlling contributed to this report.
