{"id":67966,"date":"2024-05-09T18:23:32","date_gmt":"2024-05-09T23:23:32","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67966"},"modified":"2024-05-09T18:23:32","modified_gmt":"2024-05-09T23:23:32","slug":"peter-schiff-rate-hikes-on-the-horizon","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67966","title":{"rendered":"Peter Schiff: Rate Hikes on the Horizon?\u00a0"},"content":{"rendered":"

Peter Schiff: Rate Hikes on the Horizon?\u00a0<\/a><\/h3>\n
\"\"<\/a><\/div>\n

Peter\u2019s back to recap the last week in markets and economic news. This episode starts with April\u2019s dismal stock performance and also discusses\u00a0Jerome Powell\u2019s most recent appearance.\u00a0<\/a>Peter wraps up the episode by\u00a0recounting the Bitcoin debate he participated in<\/a>\u00a0on Friday.<\/span><\/p>\n

Peter notes that April\u2019s losses in the stock market were in part created by doubt about the Fed\u2019s future rate cuts:<\/p>\n

\u201cThe reason for that was heightened talk not just about the Fed not cutting rates, but for the first time, I heard people discussing the possibility that the Fed might have to raise rates, that the next move may in fact be a hike and not a cut. Now that\u2018s the first time that I\u2019ve heard any mainstream discussion of that possibility. \u2026 I\u2019ve been saying that that is the correct policy. If the Fed really is data-dependent, and if the Fed really wants to fight inflation, based on the data, they should resume their hikes.\u201d<\/p><\/blockquote>\n

Despite this possibility, markets are unduly optimistic. The Fed\u2019s historical record is not very successful, even decades ago when America\u2019s fiscal health was much better:<\/p>\n

\u201cThe markets believe that the Fed is going to succeed. This is pure nonsense! I look back at the inflation statistics for the 40 years before the 2008 financial crisis\u2014 so 2008, 2007, going back to 1968, those 40 years\u2014 there were only 3 years where inflation was 2% or lower. The average inflation rate over those 40 years was 4.8%. \u2026 If the Fed wasn\u2019t able to come close to 2% during those 40 years, why does anybody think it\u2019s going to come anywhere near it over the next 30 years?\u201d<\/p><\/blockquote>\n

Fed Chair Jerome Powell still refuses to criticize federal fiscal policy, despite the apparent need for rate hikes:<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Peter Schiff: Rate Hikes on the Horizon?\u00a0 Peter\u2019s back to recap the last week in markets and economic news. This episode starts with April\u2019s dismal stock performance and also discusses\u00a0Jerome Powell\u2019s most recent appearance.\u00a0Peter wraps up the episode by\u00a0recounting the Bitcoin debate he participated in\u00a0on Friday. Peter notes that April\u2019s losses in the stock market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[303,431,534,963,18779,3650],"class_list":["post-67966","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-fed","tag-interest-rates","tag-monetary-policy","tag-peter-schiff","tag-schiffgold","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67966"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67966\/revisions"}],"predecessor-version":[{"id":67967,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67966\/revisions\/67967"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}