TIP - Gold Bull Peter Schiff Says Inflation Headed 'Far Higher' As Powell 'Refuses To Acknowledge' Policy Mistake During COVID-19 | Benzinga
Federal Reserve Chair Jerome Powell on Tuesday warned of rates remaining higher for longer but qualified the April producer price inflation report as mixed. More importantly, he reassured the next rate move will unlikely be upward. Economist Peter Schiff, an inflation hawk, took a swipe at Powell’s stance.
What Happened: Powell refused to acknowledge that the Fed’s easy monetary policy during the COVID-19 pandemic was a mistake, said Schiff in a post on X, formerly Twitter. “It resulted in the current inflation problem,” he said.
#Powell refuses to acknowledge that the Fed's excessively easy monetary policy during Covid was ...