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Peter Schiff and Andy Brenner, join Liz Claman in the ‘Claaman Countdown’ to discuss the latest state of the US economy.
EURO Pacific Ocean Prosptical Management Senior Economist Peter Schiff sang some criticism of the federal reserve and sounded alarm about the economy during Wednesday “Claman Back Counting”
The Federal Open Markets Committee (FOMC) comments on the show came after the afternoon after preparing the last meeting, after the last meeting, chooses to keep the price rate at the current level.
Federal Reserve Chain Jerome Powell, later made statements to the media about the decision.
Schiff Host Liz Claman’s “The biggest Takeaway This Powell admitted that there was no idea what happened to what happen.”
The Federal Reserve varies the main percentage rate for the fourth straight session
Economics and political commentator Peter Schiff (Eamonn mmmmmmmb
“They really don’t really know what happens to consumer prices. They do not know what will happen with employment.” “I don’t even think that their predictions are so desirable.”
Benchmark Federal Foundations Ratio will last from 4.25% to 4.55% after the final decision of the Fed.
FOMC politicians also published a summary of economic forecasts known as the “point area”, which indicates the “point plot”, which represents a two percentage rate after a cut in 2026 and 2027.
Jerome Powell, Federal Reserve General President, after the Federal Open Market Committee in Washington, DC, November 7, 2024, 2024. (Getty Images / Shen / Bloomberg Ting / Bloomberg via Getty Images)
They will also increase PCE inflation in 2026 this year in 2026 this year, and by 2.4% this year. The real general domestic product (GDP) decreases to 1.4% in 2025 before increasing growth to 1.6% in 2025. In 2025, in 2025 and 2026 in 2025, it is seen as high as 4.5%.
Schiff thinks of inflation more than “will be higher” than Fed and this US economy will be “very poor”.
Admittedly Fed “For the near-term and” growth forecast “,” the inflation forecast has increased a bit, but added that such changes are not “sufficiently large.”
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“Thanks to years and years, I will be able to get home more than the world and more dollars and quantities and more quantities, for the financial assets of foreigners,” Schiff Claaman said.
“You see a global secretion of the United States from us and go home and go home, you are going to offer prices.”
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SCHiff predicted that the US congestion will face very high inflation, which occurred with a recession and higher inflation.
Low interest rates will not help the US economy, he labeled them as “cause”.
“The solution covers higher interest rates,” he said. “I understand that it will be very painful, taking into account the economy, which is established in the foundation of cheap money.”
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“This means the descent of stock prices, property prices fall down, companies have failed,” he said. “There will be a presenter. It will be default. There will be an expanded recession.
The US is on the road “escaping inflation“It can be hyperinflation,” he predicted the martyr.
The last meeting of the FOMC was the fourth time this year.
FOMC also chose not to change its ratio in the previous meeting in January, March and May.
Marriner S. Eccles Federal Reserve Construction, Washington, DC, June 25, 2024. (Getty Images / Shen / Bloomberg Ting / Bloomberg via Getty Images)
In late May, the Individual Consumer Expenditure Index showed more than 0.1% per month and more than 2.1% of inflation in April.
Eric Revell contributed to this report.
