The Federal Reserve is basing its assumptions on a robust recovery which we both agree its not going to take place. I think that if the Federal Reserve were actually to follow through with the tightening that it has telegraphed, we would be in a recession. And of course, what does the Federal Reserve do in a recession? It prints money and lowers rates. So, its impossible for the Federal Reserve to do what it has claimed its going to do.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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