TIP - Gold Bull Peter Schiff Thinks We Should Brace For Double-Digit Inflation Rate Because Fed's Powell 'Can't Walk The Talk' | Benzinga
The February consumer price inflation report came in hotter than expected, but traders shrugged off the number and indulged in buying, anticipating that the central bank would lower the Fed funds rate this year. However, comments from economist and gold bull Peter Schiff on Tuesday tell an altogether different story.
What Happened: According to Schiff, the February inflation number confirms that the disinflation trend ended months ago. He stated in a post on X that inflation bottomed and was now on the rise.
Source: Bureau of Labor Statistics
“Rather than falling back down to the #Fed’s 2% target, the rate is far more likely to head back up to 9%, then ultimately breaking into double digits,” the economist warned.
In the current cycle, ...