Federal Reserve: Alleged Case For An Interest Rate Hike Is Fading Fast

The Atlanta Federal Reserve has just lowered its third quarter Gross Domestic Product (GDP) estimate to just 2.2 percent. That is down from an estimate of 3.8 percent a month ago. This means that the Federal Reserve alleged case for an interest rate hike is fading fast!

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

2017: Certainly A Recession Year

2017 should certainly be a recession year officially. Again, I still think that after the election we could get some official downward revisions to prior GDP numbers that would officially date the beginning of this recession to sometime in 2016 but the last thing the Government wants to do is to acknowledge that fact before the election.

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

The U.S Economy Is Getting Weaker And Weaker

We are already decelerating, we are already going downhill. We have already passed the peak of economic expansion. We are contracting and we are either nearing recession or already in one. But the longer we go in time the weaker the economy is going to get.

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