Euro Pacific Asset Management Chief Economist Peter Schiff expressed concerns about the Federal Reserve’s ability to manage the economy during an appearance on “The Claman Countdown.” Schiff criticized the Fed’s lack of clarity regarding future consumer prices and employment trends. Despite keeping the benchmark interest rate steady, Schiff argued that inflation will be higher and the economy weaker than anticipated. He pointed to longstanding monetary policies as the root cause of inflation, rather than recent tariffs. Schiff warned of stagflation, combining recession and rising inflation, and suggested that only significantly higher interest rates could address these issues, albeit painfully. He predicted a potential financial crisis worse than 2008 if corrective actions aren’t taken.
— new from Fox Business
