The Fed Has Made Zero Progress Fighting Inflation – Ep 847
The Peter Schiff Show Podcast
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The Fed Is Not Going to Fight Inflation Until We Get a Real Increase in Consumer Credit
The Fed is not going to make any headway in fighting inflation until we see a meaningful increase in the savings rate and a meaningful reduction in the amount of consumer credit. That's not going to happen unless we get a real increase in interest rates much bigger than we've seen now. But that is impossible because the Fed cannot do that without creating a financial crisis. And if they do create a financial crisis, or if we are poised on the precipice of such a crisis, we already know what the Fed's going to do. They will always choose inflation over financial crisis. It can't admit that so it has to pretend. So it is raising interest rates, but not by enough to
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