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Consumer confidence remains in the dumps, thanks in large part to rising prices in essential goods and services like housing. Contrary to the Trump administration’s preference for lower interest rates, the solution to the housing affordability crisis is to end the Fed, which created and still sustains the problem.
Although Jerome Powell appears temporarily safe from President Trump’s ire, it’s only a matter of time before the pressure to cut rates will ratchet up on the Fed. Indeed, Trump– like all other politicians– wants low interest rates to facilitate ever-increasing deficits and obscure the faultlines in the economy.
On several podcast episodes, Peter Schiff has talked about the warning signs we’re seeing on Wall Street through the struggles of so-called unicorn companies. Unicorns are privately held companies valued over $1 billion. Companies like Lyft, Chewie, Uber and WeWork were the darlings of WallStreet. Their IPOs were much-anticipated by investors. They are also the […]
The Federal Reserve isn’t the only central bank cutting interest rates. In fact, the world is awash in easy money. The Fed met market expectations during the September FOMC meeting and lowered interest rates another 25 basis points. It was the second cut of the year and pushed the interest rate down to the range of […]
