Peter Schiff: Fed's main strategy is to pretend they will hike, don't await October or December - Video
It appeared to be that CEO of Euro Pacific Capital and well-known market analyst Peter Schiff was right when he claimed the Fed has never seriously thought of increasing rates. Instead, he suggested we should brace for a QE 4.
In a fresh interview on why the central bank stood pat, Schiff reiterated that Janet Yellen never intended to increase rates. She used the excuse of weakness in the global markets and global economy, but that was nothing to do with the real reasons.
The U.S. stuck in zero, there is a gigantic bubble, and the last thing the Fed wants to do is to prick it. But the air is coming out all by itself, Schiff says.
But many other analysts suggest the rate hike is still on the table. We still have October and December. Is there at least a tiny possibility that a hike may happen this year? And if the QE 4 is on the way, when will it happen?
Schiff responds that nothing will change in October, the same environment will prevail, and economic data from the U.S. keeps disappointing. The central bank's main strategy is to pretend they will raise rates.
Not all market players support his interesting view, and analyst Scott Nations starts debating with him...
