Possible vs. Probable: Oct. Jobs Report & Rate Hike Fantasies (Video)

In his latest video blog post, Peter Schiff challenges the mainstream notion that the October jobs numbers released yesterday are good enough to justify the a Federal Reserve rate hike in December.

Just because a rate hike is a possibility doesn’t mean it’s going to happen. It’s been a possibility all year. People thought it was possible they were going to raise rates in March. They didn’t. They thought it was possible they’d do it in June, September. Some people thought they might have raise rates last month. That was possible, but it didn’t happen… Yellen didn’t say that if we get all the improvements we want, we’re going to raise rates. She said if we get all the improvements we want, we might raise rates. She didn’t even use the word probable… Probable would imply the possibility was greater than 50/50…”

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