Peter Schiff Says Unlikely That Fed Rate Cuts Will Lower Borrowing Costs, Predicts Rising Mortgage Rates And Dollar Collapse — Suggests 100 Basis Points Rate Hike As Cure
Portfolio Pulse from Benzinga Neuro
Economist Peter Schiff warns that upcoming Federal Reserve rate cuts may not lower borrowing costs and predicts rising mortgage rates and a potential dollar collapse. Schiff suggests a 100 basis points rate hike as a solution. The Federal Open Market Committee is set to meet on September 18, with debates on the size of the anticipated rate cut.
September 17, 2024 | 3:50 am
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Peter Schiff, known for his skepticism towards Bitcoin, suggests that the Federal Reserve's actions, including potential rate cuts and a return to quantitative easing, could lead to a dollar collapse and reignite inflation. This could impact Bitcoin as an alternative asset.
Schiff's prediction of a dollar collapse and rising inflation could increase interest in Bitcoin as a hedge against traditional currency devaluation, potentially boosting its price.
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