It will be the “same old policies,” under Yellen, now Fed vice chairman, but she’ll be even more dovish than current Fed Chairman Ben Bernanke,“I used to think that Alan Greenspan was the worst Fed chairman we ever had until Bernanke was appointed. He kind of let Greenspan off the hook,” Schiff told Yahoo Finance Yesterday “My guess is that Janet Yellen will return the favor, and Ben Bernanke won’t go down in history as the worst Fed chairman. It’s going to be Janet Yellen.”
She will bow to pressure from liberal Democrats to “keep stimulating the economy through cheap money, even though it doesn’t work,” He added.
“I think she’s going to be leading the Fed in a dangerous direction.”
- Peter Schiff