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