Interest rates have been too low for too long, that is a big problem. But unfortunately they are not going to be raised anytime soon and ultimately when interest rates do go up, its not because the Federal Reserve wants them to go up, but because they have no choice. But I think the next thing the Fed is going to do is to launch an even bigger round of QE then the one they are tapering off from. Because the U.S. Economy is not recovering, we are slipping back into recession. If the Fed does not know that, it will by the end of the year and it will have to reverse policy.
Related trading instruments: SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF), iShares MSCI Emerging Markets Index ETF (EEM)
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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