Peter Schiff: The Fed Cannot Save Us

Peter Schiff: The Fed Cannot Save Us

Fergus Hodgson, May 6, 2019

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Peter Schiff, CEO of Euro Pacific Capital, believes the Fed’s recent moves indicate a recession is around the corner, already overdue. This time it will be off the charts, more severe than ever before for the United States.

In recent decades, the Fed’s modus operandi has been to re-inflate popping bubbles, thus making them larger than before and delaying the correction. However, with rates already at zero in real terms, the Fed has nowhere to go but up. Yet the cost of debt servicing means the Fed’s hands are tied.

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