The Peter Schiff Show Podcast Fed Tempers Rate Cut Enthusiasm - Ep 938
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Dec 16, 2023 Discussion on Dow Jones and NASDAQ 100, conflicting rate cut comments, speculation on rate cuts' impact, Federal Reserve's strategy, the creditworthiness of the US, hope for a libertarian presidency, and a defamation lawsuit against Rudolph Giuliani.
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Market Reactions to Fed Comments
- The stock market reacted calmly to Fed official John Williams' comments.
- These comments significantly impacted the gold and foreign exchange markets.
Williams' Contradictory Stance
- John Williams contradicted Powell's previous statements about rate cuts, surprising traders.
- Williams stated it's "premature" to discuss rate cuts, shifting focus back to inflation.
Fed's Damage Control
- Peter Schiff believes Williams' comments aim to temper market enthusiasm, not negate Powell's stance.
- The Fed might be trying to control market reactions to avoid excessive speculation.