Powell Pulls the Hope Out From Under the Market – Ep 852
The Peter Schiff Show Podcast
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Powell admitted that the Fed has no sense that inflation is coming down. He said we are exactly where we were a year ago. That's been my point the entire time. You don't have restrictive interest rates until the interest rate is above the inflation rate. As long as you have an interest rate that substantially below the inflation rate, you have an accommodative monetary policy. We still have lots of ground to cover before we get interest rates up to restrictive territory. Consumers are not saving. In fact, they're depleting their savings. And so does the government. The deficits are getting bigger. They're not getting smaller.
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