Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Gold advocate Peter Schiff urges the Federal Reserve to raise interest rates instead of cutting them

Gold advocate Peter Schiff urges the Federal Reserve to raise interest rates instead of cutting them

Bitget2024/08/18 01:21

PANews reported on August 18th, according to News.bitcoin, economist and gold advocate Peter Schiff suggested that the Federal Reserve should raise interest rates instead of lowering them, even if this would cause a market crash. He admitted that such an action could lead to a stock market and real estate collapse, causing a hard landing and triggering a recession, emphasizing the potential severity of these market consequences.

Economist and gold advocate Peter Schiff recently expressed his views on the U.S. economy, Federal Reserve policy, market rebounding as well as the possibility of imminent rate cuts in his podcast and social media platform X. Peter Schiff pointed out that decades of Fed policies have made economic recession inevitable. He suggested that the Fed should not cut interest rates but rather raise them even if it triggers a market crash; he believes this is a "necessary crash" to correct the economy. He thinks: "The right thing to do is to further increase interest rates and let everything take its course naturally. Of course, there will be stock market crashes. Real estate will collapse. We'll have a hard landing. The economy will go into recession." Despite these views, this gold enthusiast admits that there's growing confidence in an impending rate cut among investors which might happen before September's meeting - expectations already starting to affect investor sentiment.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!