Peter Schiff: Fed Is Wrong on the Economy and Inflation, They Will Probably Cut Rates and Fuel an Inflation Fire

CLAMAN Peter okay let ░░░░░░░░ disagree with my good ░░░░░░░░ Amy Brenner She says ░░░░░░░░ s looking that the ░░░░░░░░ year is maybe moving ░░░░░░░░ the end I think ░░░░░░░░ s moving on what ░░░░░░░░ in the last 24 ░░░░░░░░ with Canadian inflation and ░░░░░░░░ inflation Canada just cut ░░░░░░░░ rates by a quarter ░░░░░░░░ a percent 25 basis ░░░░░░░░ June 5 and yesterday ░░░░░░░░ comes in with hotter ░░░░░░░░ expected inflation and Australia ░░░░░░░░ hotter than expected inflation ░░░░░░░░ this a cautionary tale ░░░░░░░░ the Fed if it ░░░░░░░░ is cutting way too ░░░░░░░░ Schiff Well not only ░░░░░░░░ it cutting too early ░░░░░░░░ stopped hiking too early ░░░░░░░░ are still much too ░░░░░░░░ the Fed never actually ░░░░░░░░ rates into restrictive territory ░░░░░░░░ s just not true ░░░░░░░░ continues to expand in ░░░░░░░░ economy Look at the ░░░░░░░░ deficit look at household ░░░░░░░░ And now I read ░░░░░░░░ the U S Government ░░░░░░░░ soon going to be ░░░░░░░░ second mortgages That is ░░░░░░░░ major expansion of credit ░░░░░░░░ is highly inflationary So ░░░░░░░░ the central banks that ░░░░░░░░ cutting rates are doing ░░░░░░░░ not really because they ░░░░░░░░ won the war against ░░░░░░░░ but because fighting inflation ░░░░░░░░ caused other financial problems ░░░░░░░░ are now a greater ░░░░░░░░ for the central banks ░░░░░░░░ I think the Fed ░░░░░░░░ going to fall victim ░░░░░░░░ the same concern They ░░░░░░░░ probably going to eventually ░░░░░░░░ rates and they are ░░░░░░░░ to be fueling an ░░░░░░░░ fire.”