The Federal Reserve Is Not Going To Be Able To Raise Interest Rates Again

I do not believe the Federal Reserve is going to be able to raise interest rates again, that was the reason I thought they were not going to raise them at all. I thought they were smart enough to recognize what the consequences of raising rates would be and that they would not want to put themselves in a box. I guess I overestimated the competency of the Federal Reserve. They raised rates apparently clueless of the havoc it would cause in the markets but I warned everybody of what was going to happen.

Of course since they raised rates, this is the worst start to a year in the stock market in history and in fact its one of the worst months in history of any year. And the U.S. Economy is rapidly returning to 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.