Outspoken economist Peter Schiff of Euro Pacific Capital shares his warnings with FOX Business on the debt ceiling and addresses why inflation is not really easing.
Last month, during an interview on Fox Business Network, you said inflation will be higher this year. We’ve seen it ease slightly as of December — CPI +6.5%. Any update to your views here?I still think, by the end of the year, inflation will be headed higher again, with the year-over-year increase possibly taking out the high from 2022. If it doesn't take out the 2022 high in 2023, it will do so in 2024.
To combat rising consumer prices, the U.S. Federal Reserve is expected to continue its interest rate hiking strategy in 2023.Schiff:Federal Reserve Chairman Jerome Powell weighs inflationary market pressures for 2023 after the latest inflation data showed consumer prices still 6.5% higher on an annual basis.is expected to keep tightening this year.
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