Why the Fed Can`t Raise Interest Rates

This is what is so unique to this situation. They had to bring rates all the way down to zero, which is the lowest they can go. They had bring them down to 1 percent in the last Greenspan recession and at that point it was the lowest they had been. Now they had to go all the way to zero. But what is different is that not only did they have to bring their rates down to zero to get the recovery but they could`t even raise them at all. We now have so much debt that we can`t even handle the slightest increase without going into recession.

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