Economist Peter Schiff Discusses Likelihood of a Fed Interest Rate Cut in March

Economist Peter Schiff has offered his perspective on the likelihood of a Federal Reserve interest rate cut in March. Despite Federal Reserve Chairman Jerome Powell indicating that a rate cut in March is unlikely, Schiff believes that Powell’s statement may actually increase the probability of a rate cut in March. Schiff argues that the Fed’s role is to create inflation and then pretend to fight it. He claims that the Fed creates inflation to support the government’s budget deficits and prop up financial markets. Schiff also criticizes Powell’s handling of inflation, citing inconsistencies in his statements. He questions how long it will take for the financial community to realize the severity of the upcoming recession and the growing inflation problem. Schiff concludes by suggesting that the Fed’s true job is to create and deny inflation, while blaming others for the issue and pretending to combat it.