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Peter Schiff: Fed Money Wizards Running Out of Rabbits |

Most people think everything is fine. The Fed is controlling inflation and they will soon be able to cut interest rates, preventing the economy from falling into a deep recession. In his podcast, Peter Schiff poured cold water on this narrative. He explains why the Fed won’t be able to repeat the magic it did after the financial crisis and COVID.

Oil prices continued to rise last week. Meanwhile, bond yields also continue to rise.

As Peter pointed out, one of the main reasons why the CPI fell so quickly was the fall in energy prices.

People forget that oil prices fell almost 50% from their peak, and that decline ended in May of this year. But this big drop in oil prices was a big factor in bringing headline inflation from 9% to 3%. And it wasn’t just the rate hikes that did it. I mean, they were partially responsible because the rate hikes drove the dollar up and the dollar up drives oil prices down.”


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