Powell Resurrecting the High Inflation Volcker Buried

Volcker Dies as Inflation Comes Back to Life

Today the Federal Reserve had its last official meeting of the year. And, as was widely expected, the Federal Reserve was unanimous in their decision not to cut interest rates. 

They didn't even consider hiking interest rates, but they decided not to cut them any further for now. So, they're on a pause. The short-term rates are now 1.5%. 

The target is 1.5% to 1.75%, and the idea is that the Fed is going to remain there for some time. Now, I don't really think it is going to be that long before they cut rates.

- Source, Peter Schiff Podcast

Peter Schiff: Justice for George Zimmerman

The FED is NOT Done Cutting Rates

Peter Schiff: House of cards will tumble down on consumers

Destroying Savings Doesn't Create Jobs

What rallies the market is not the rumor of an actual trade deal but the rumors of a phony trade deal - a phase 1 deal which really isn't a deal at all. In fact, to the extent that anybody is even celebrating phase 1, what they really celebrating is that the trade war is over. 

That Donald Trump has basically surrendered without admitting that he has surrendered. In fact a lot of the talk about what the Chinese even need to get the phase 1 deal is for all of the tariffs to be removed. 

Not just cancelling the future tariffs, but to take away all the tariffs that are already there, which, of course would be a relief for the American consumer, who, contrary to Donald Trump's claim, they're the ones who pay the tax - not the Chinese.

- Source, Peter Schiff

Peter Schiff: It's Bad Monetary Policy Not a Good Economy

We had record high closes today in the S&P 500, the NASDAQ composite; the Dow Jones not quite a new record but still up better than 300 points: 301.13 to be precise. 

Of course, all of the headlines, and President Trump - they're going to be claiming that the reason that we had these surging stock prices is because we had a stronger than expected jobs report. 

We got the October nonfarm payroll that came out this morning and it was better than was expected. You had Larry Kudlow out there talking about how this is a fantastic jobs report. 

It basically shows how we have this great economy; the greatest economy in the history of America, and that's the reason that the stock market is making record highs, because we have this great economy.

- Source, Peter Schiff

Powell Admits Inflation Is Headed Much Higher

As expected, the Federal Reserve cut interest rates. This is the third rate cut of this cycle. We're now down to 1.5%. 

But of course, what everybody has to remember is a year ago, when the Fed was hiking interest rates, the forecast from the Fed was that they were going to continue to hike rates. 

They were supposed to have another 3 or 4 rate hikes in 2019. And, of course, a year ago, as the Fed was hiking rates, they were still shrinking their balance sheet and they were going to continue to shrink it. They were talking about auto-pilot. 

They were going to continue to do $50 billion/month of quantitative tightening. And they said this with a straight face. And everybody believed them.

- Source, Peter Schiff

Peter Schiff: Painful Awakening Awaits Investors

Peter Schiff: Big Government is the Real Threat

Peter Schiff: We've Never Seen Anything Like This Before

Peter Schiff discusses how the Federal Reserve plays an integral role in the economic recessions of the past. 

Peter covers cause and effect, and how different functions of the markets, politics, national debt, and central banks influence and shape the future of the world economy. 

He also gives insight on where he sees the economy heading, and how his prediction is likely to pass in the near future.

- Source, Peter Schiff

Trump and Powell Follow the Same Script