Peter Schiff Says Fed May Have 'Secretly Given Up' 2% Inflation Target: 'New Unspoken Mandate Will Be ...'
Portfolio Pulse from Shanthi Rexaline
Peter Schiff, a gold bull, has suggested that the Federal Reserve may have secretly abandoned its 2% inflation target. He believes the central bank's new unspoken mandate will be to finance government debt and prevent a financial crisis, regardless of how high inflation rises. The Bureau of Labor Statistics' August CPI report is expected to show an acceleration in consumer price inflation rate from 0.2% in July to 0.6% in August. The iShares TIPS Bond ETF (NYSE:TIP) ended Tuesday’s session up 0.05% at $105.40.

September 13, 2023 | 6:55 am
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The iShares TIPS Bond ETF (NYSE:TIP) ended Tuesday’s session up 0.05% at $105.40. The ETF could be impacted by changes in inflation expectations.
The iShares TIPS Bond ETF (TIP) tracks the investment results of an index composed of inflation-protected U.S. Treasury bonds. Therefore, any changes in inflation expectations or Federal Reserve policy could impact the ETF. However, it's uncertain how the market will react to Peter Schiff's comments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50