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

EXCERPT:

SCHIFF: "Well, not only is it cutting too early, it stopped hiking too early. Rates are still much too low. The Fed never actually moved rates into restrictive territory. That’s just not true. Credit continues to expand in the economy. Look at the federal deficit, look at household debt. And now I read that the U.S. Government is soon going to be guaranteeing second mortgages. That is a major expansion of credit, it is highly inflationary. So all the central banks that are cutting rates are doing it not really because they’ve won the war against inflation, but because fighting inflation has caused other financial problems that are now a greater concern for the central banks, and I think the Fed is going to fall victim to the same concern. They are probably going to eventually cut rates and they are going to be fueling an inflation fire."