CPI - Peter Schiff Slams Powell's Outlook On CPI Says 'Inflation Will Stay Well Above Fed's 2% Target' | Benzinga
Peter Schiff, a well-known gold bull, recently challenged Jerome Powell’s claim that inflation is a consequence of consumer expectations, highlighting the role of excessive government spending and deficits.
What Happened: On Tuesday, Schiff took to Twitter to question Federal Reserve Chair Jerome Powell’s perspective on inflation. He disputed Powell’s assertion that inflation is driven by consumer expectations, attributing it instead to persistent government overspending and deficits. Further, Schiff warned of the potential for inflation to surge beyond the Fed’s 2% target if the Fed reverts to Quantitative Easing (QE).
#Powell still claims that #inflation is a function of consumer expectations. Regardless of what consumers expect, as long as excess government spending and deficits continue, inflation will stay well above the Fed's 2% target. Once the Fed returns to QE, it will rise much higher. — ...