There was a lot of Fed-talk on Friday and the big theme was inflation.
For quite a while, Peter has been asking an important question: what is the Federal Reserve going to do when the inflation level gets above 2%? Well, it looks like its setting the stage.
US stock markets had a strong week last week. The Dow Jones capped it off gaining more than 300 points on Friday.
Optimism about a trade deal with China along with increasing expectations that the Federal Reserve will slow the pace of interest rate hikes buoyed the markets.
This has led many pundits to declare that the correction is over. Some have even declared its a new bull market. In his latest podcast, Peter Schiff said that’s not what’s happening at all. What we’re seeing is a typical bear market correction and a recession is right around the corner.
