The Markets Will Be In A Downtrend Until The Fed Gives In

That is why the markets are going down now, they are starting to discount the removal of the QE and I think the markets will be in a downtrend until the Federal Reserve gives in and gives the market another fix. That is what the market needs to sustain the excess valuations. That is what we need to maintain the illusion of a recovery and that is what the Federal Reserve is going to deliver.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.