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No Fed Rate Hike Coming, They Never Intended To - Peter Schiff
Peter Schiff joins Kitco News to talk about gold, the Federal Reserve rate hikes as well as the current state of the U.S. economy. According to Schiff, he doesn’t think the central bank actually wants to raise interest rates, as markets perceive. “I don’t think they’re really considering it,” Schiff says. “I think they know that if they raise rates, everything is going to collapse and they’re going to have to cut rates back to zero and look like complete fools.” Schiff also notes that the Fed’s best course of action is to simply let markets take their course and face the crisis the Fed ‘interrupted’ a few years back with its easing measures. “They never actually committed to [raising rates], it’s just the markets that have made that assumption,” he says. “The fed has not gone out of its way to correct that assumption, but I think that’s by design.” Kitco News, September 2, 2015. (show less)
Peter Schiff joins Kitco News to talk about gold, the Federal Reserve rate hikes as well as the current state of the U.S. economy. According to Schiff, he doesn’t think the central bank actually wants to raise interest rates, as markets perceive. “I don’t think they’re really considering it,” Schiff says. “I think they know that if they raise rates, everything is going to collapse and they’re going to have to cut rates back to zero and look like complete fools.” ... (read more)
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