On June 4, 2019, during an interview on Fox Business, Peter Schiff said the Federal Reserve was going to cut rates to zero and launch another massive round of quantitative easing.
March 16, 2020 — here we are.
Peter – “I think what’s going to happen is when the Fed goes back to zero, which is what they are going to do. They’re not just going to cut 25, 50 basis points. They’re going back to zero. But there’s not a lot of room between where we are now and zero.”
Liz – “We’re at two-and-a-quarter and two-and-a-half.”
Peter – “So, what the real stimulus is going to be is QE4, which is going to be bigger than the first three rounds combined.”
Liz – “Wait, is that you’re prediction?”
Peter – “Yeah.”
Liz – “OK. Articulate it here.”
Peter – “Well, the Fed is going to go back to QE. I mean, they’re going to do whatever they can to try to stop the bear market and to try to prevent the recession. But they are going to fail. They’re going to make it worse this time.
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