Peter Schiff Nailed It! (Video)
Peter Schiff nailed it.
Just days before the Federal Reserve met for its December 2018 FOMC meeting, Peter appeared on Fox Business and said we were about to see the last interest rate hike.
When Peter made this prediction, virtually nobody thought the Fed was about to end its tightening policy. In fact, most financial experts were talking about three or four additional rate hikes in 2019.
Well, Peter was right. After that December increase, we got the Powell Pause.
Not only did Peter say that December would be the last increase. He said the next move would be a rate cut.
Fast forward to today and all of the talk in the mainstream is about the likelihood of a Fed rate cut. In fact, markets are forecasting an 80% probability of a rate cut this year.
Here’s what Peter said on Dec. 17, 2018.
I think regardless of what the Fed does on Wednesday, the next thing they are going to do is cut rates. They’re going back down to zero. But it’s not going to stop the bear market, and it’s not going to stop the recession. It will probably kick-start inflation into a higher gear.”
Peter also talked about the complacency in the markets at the time.
People should be afraid – more-so about what’s going to happen to the economy. There is going to be another financial crisis. The next recession is going to be much worse than the last one. That is the problem. You know, whether or not the Fed is going to let the cat out of the bag tomorrow, whether they’re going to take a punt and not raise interest rates, but regardless of what they do, this is the last rate hike.”
Yes indeed, Peter nailed it.
Stay tuned for what’s next.
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