Peter Schiff: The Fed Admits It Doesn’t Know Anything

In Wednesday’s episode of The Peter Schiff Show, Peter unpacks the Federal Reserve’s recent decision to hold rates steady, dissecting Jerome Powell’s latest press conference for its contradictions and disconnect from the economic realities faced by Americans. He also critiques ongoing trade policy blunders and warns that political posturing could lead the U.S. into a major economic downturn.

Peter opens by reflecting on the Fed’s latest move and the market’s reaction, pointing out the gap between Powell’s rhetoric and investors’ response:

Well as expected earlier today, the federal reserve left interest rates unchanged. The fed funds target remains between 4.25 and 4.5%. You know, I think this was one of the most hawkish press conferences that I’ve seen Powell participate in. You wouldn’t really know that by the reaction in the stock market. Stock market kind of, you know, just ignored what Powell said. The bond market did get a boost as you would expect.