Peter Schiff Dismisses Hawkish Fed Pause Hype — Says Good Chance 'Fed's Next Move On Rates Will Be A Cut'
Portfolio Pulse from Bhavik Nair
Peter Schiff, chief economist at Euro Pacific Capital, dismisses the hawkish pause on rates by the Federal Reserve and believes the next move will be a rate cut. Following the Fed's policy announcement, bond traders raised bets on a possible recession, causing the iShares 1-3 Year Treasury Bond ETF (SHY) and Vanguard Short-Term Treasury Index Fund ETF (VGSH) to decline.
June 15, 2023 | 7:31 am
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NEGATIVE IMPACT
Peter Schiff's dismissal of the hawkish Fed pause and prediction of a rate cut led to bond traders raising bets on a recession, causing the iShares 1-3 Year Treasury Bond ETF (SHY) to decline by 0.06%.
Peter Schiff's prediction of a rate cut led to bond traders raising bets on a possible recession, which negatively impacted the iShares 1-3 Year Treasury Bond ETF (SHY) as investors may have adjusted their positions in anticipation of a potential economic downturn.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Following Peter Schiff's dismissal of the hawkish Fed pause and prediction of a rate cut, bond traders raised bets on a recession, causing the Vanguard Short-Term Treasury Index Fund ETF (VGSH) to decline by 0.05%.
Peter Schiff's prediction of a rate cut led to bond traders raising bets on a possible recession, which negatively impacted the Vanguard Short-Term Treasury Index Fund ETF (VGSH) as investors may have adjusted their positions in anticipation of a potential economic downturn.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80