Economist Peter Schiff predicts economic troubles as the Middle East conflict escalates. He discusses the impact on the U.S. economy and questions the possibility of further interest rate hikes.
Economist Peter Schiff has drawn parallels between the recent attack on Israel and the aftermath of 9/11, stating that it marks the beginning of a challenging period. Schiff believes that the U.S. economy, already structurally weak, cannot afford peace, let alone war. He emphasizes the financial strain of war, citing increased deficits and inflation as major concerns.
Schiff is skeptical about further interest rate hikes by the Federal Reserve, citing the uncertainty brought by the Middle East conflict. He suggests that the Fed may even need to cut rates to stabilize the situation.
In a recent social media post, Schiff mentioned that the era of zero interest rate policies (ZIRP) may be over. He warns that a return to higher interest rates could lead to runaway inflation, a dollar implosion, and economic turmoil, ultimately resulting in a crisis. Schiff’s predictions extend to a U.S. dollar collapse and a more severe financial crisis than the 2008 recession.
Economist Peter Schiff has drawn parallels between the recent attack on Israel and the aftermath of 9/11, stating that it marks the beginning of a challenging period. Schiff believes that the U.S. economy, already structurally weak, cannot afford peace, let alone war. He emphasizes the financial strain of war, citing increased deficits and inflation as major concerns.
Schiff is skeptical about further interest rate hikes by the Federal Reserve, citing the uncertainty brought by the Middle East conflict. He suggests that the Fed may even need to cut rates to stabilize the situation.
In a recent social media post, Schiff mentioned that the era of zero interest rate policies (ZIRP) may be over. He warns that a return to higher interest rates could lead to runaway inflation, a dollar implosion, and economic turmoil, ultimately resulting in a crisis. Schiff’s predictions extend to a U.S. dollar collapse and a more severe financial crisis than the 2008 recession.
