Economist Peter Schiff warned the Fed's action could lead to market crashes, a massive financial crisis, and severe recession. USDollar inflation
Economist Peter Schiff Warns Fed Action Could Lead to Market Crashes, Massive Financial Crisis, Severe Recession
Gold bug and economist Peter Schiff says there are two possible outcomes of the Federal Reserve’s action on the U.S. economy. One outcome leads to “a massive financial crisis and severe recession” as stocks, bonds, and real estate crash. In the second outcome, “the world will run away from the dollar,” the economist stressed.Gold bug and economist Peter Schiff continued to share his view on the U.S. economy and the Federal Reserve’s efforts to bring down inflation this week.
: “Inflation is here to stay, and will get much worse despite rate hikes, due to over a decade of inflationary monetary and fiscal policy. This is very bearish for the dollar and bullish for gold.” Schiff noted: “The days of sub-2% inflation are gone.”
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