Peter Schiff: Recession Inevitable Despite China Deal
It looks they’ve run out of patience at the Eccles Building.
The Federal Reserve Open Market Committee wrapped up its June meeting yesterday leaving interest rates unchanged. But the talk coming from the central bankers was decidedly dovish. Patience was not in the Fed’s vocabulary. Instead, Powell and company talked about “uncertainty” and said they would “act as appropriate to sustain the expansion.”
As Peter Schiff said in his podcast, the table is now set for a rate cut in July.
As you’ll recall, the word “patient” was a key word in the Fed’s pivot to