CPI - Peter Schiff Criticizes Fed's Rate Cut Plans Amid Weakening Dollar: 'This Couldn't Come At A Worse Time' | Benzinga
In a recent tweet, Peter Schiff expressed concern over the declining U.S. Dollar Index and the Federal Reserve’s plans for interest rate cuts. Schiff’s tweet, posted on December 21, highlights the potential inflationary impact of these rate cuts, especially given the current technical breakdown of the dollar.
What Happened: The U.S. Dollar Index closed at its lowest level since July, raising alarms about the currency’s weakening position. Schiff, a prominent economist, took to social media to voice his concerns.
The U.S. Dollar Index closed at its lowest level since July. More importantly, the technicals are breaking down. This couldn't come at a worse time. The #Fed is planing interest rate cuts, which will not only accelerate the decline, but put renewed upward pressure on #inflation. — Peter Schiff (@PeterSchiff) December 21, 2023
Schiff’s critique comes amid a broader discussion on the Federal Reserve’s approach to managing the economy.