Schiff: Inflation Still Rising Despite Biden Policies and Fed Rate Hikes

Peter Schiff believes Bidenomics and Fed rate hikes have failed to curb inflation, which he predicts will get worse.
Schiff says consumers are still spending and reducing savings despite rate hikes meant to do the opposite.
Government budget deficits are higher now than when rates were 0%, so spending is up not down.
Schiff thinks interest rates high enough to truly fight inflation are too high for markets to withstand.
To protect from inflation, Schiff's firm owns shares of gold miners, oil companies, and other inflation-resistant assets.

yahoo.com

Relevant topic timeline:

8/21/2023

This market strategist expects stagflation and is investing for it now.

Keith McCullough, CEO of Hedgeye Risk Management, warns investors to be agnostic and open-minded in order to find opportunities in a challenging market environment, particularly due to the threat of stagflation, and suggests allocating investments to sectors such as health care, gold, Japan, India, Brazil, and energy stocks. McCullough criticizes the Federal Reserve for underestimating future inflation and urges investors to watch their actions rather than their words. He predicts that the Fed will tighten rates despite a low point in the U.S. economy, leading to a potential stock market crash. McCullough advises investors to own assets like gold and to be cautious with U.S. stocks, while favoring sectors that are accelerating, such as health care.

9/25/2023

JPMorgan Strategist Warns of Potential Stock Market Decline in 2023, Upgrades Energy Stocks

Marko Kolanovic, chief markets strategist at JPMorgan Chase, warns that a potential decline in inflation in late 2023 could challenge the stock market and weaken the pricing power of businesses, particularly in industries such as retail, automotive, and airlines. He also expresses concerns about the delayed effects of interest rate hikes on the economy, although he upgrades JPMorgan's position on global energy stocks due to expected increases in oil prices. Kolanovic foresees Japanese stocks performing well and suggests that China is entering a "buying zone" with potential trading opportunities in Chinese equities.

9/27/2023

BofA CEO: Fed Succeeding in Soft Landing as Data Shows Spending Slowdown, Sees One More Rate Hike Before Cuts

Bank of America CEO Brian Moynihan believes that the Federal Reserve has successfully tamed inflation but warns that factors like the strength of US consumers may lead to higher interest rates; however, Moynihan expects the US to avoid a recession and experience slow GDP growth in the coming quarters.

10/1/2023

Fed Rate Hike Prospects Weigh on Gold, Boost Dollar as Markets Brace for Extended Policy Tightening

The Federal Reserve's expected interest rate hikes have had a significant impact on gold and bonds, causing gold prices to decline and the US Dollar to reach a ten-month peak; however, concerns have been raised about whether these measures are sufficient to counteract inflation, leading to speculation about potential adjustments in rate policy.

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Posted 9/8/2023, 6:31:41 PM