Gold Bull Peter Schiff Says Inflation Headed 'Far Higher' As Powell 'Refuses To Acknowledge' Policy Mistake During COVID-19
Portfolio Pulse from Shanthi Rexaline
Economist Peter Schiff criticized Federal Reserve Chair Jerome Powell for not acknowledging that the Fed's easy monetary policy during COVID-19 was a mistake, which he believes has led to the current inflation problem. Schiff predicts that inflation will rise further as the Fed is likely to repeat its mistakes. The iShares TIPS Bond ETF (TIP), which tracks inflation-protected U.S. Treasury bonds, saw a slight increase in premarket trading.
May 15, 2024 | 11:50 am
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The iShares TIPS Bond ETF (TIP), which tracks inflation-protected U.S. Treasury bonds, rose 0.19% in premarket trading following Peter Schiff's prediction of higher inflation.
The iShares TIPS Bond ETF (TIP) is directly impacted by inflation expectations. Peter Schiff's prediction of higher inflation likely contributed to the ETF's premarket rise, as investors seek inflation-protected assets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80