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The Peter Schiff Show Podcast

75 Basis Point Rate Hike May Signal Peak Hawkishness – Ep 820

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 16 June 2022

⏱️ 61 minutes

🧾️ Download transcript

Summary

· Fed makes biggest rate hike move in 28 years.
· Powell makes excuses for Fed’s role in causing inflation.
· Credit card debt at all time high while credit card interest surges.
· Atlanta Fed predicts zero growth for second quarter.
· Green New Deal Democrats should embrace higher oil prices.
· Gold shows strong support at $1800.
· CNBC gives Michael Saylor a podium to keep pumping Bitcoin.



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Transcript

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0:00.0

Today's podcast was recorded yesterday.

0:02.4

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0:04.5

commercial free, the day I record them,

0:07.1

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0:10.2

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0:12.3

The petershift show.

0:17.1

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0:38.7

Earlier today, the Fed Reserve increased interest rates.

0:42.8

Of course, they had been promising to increase interest rates in June

0:47.2

and they delivered on that promise.

0:49.7

Although up until a few days ago,

0:52.4

the rate hiked it, everybody expected the Fed to deliver on

0:56.2

was going to be 50 basis points.

0:58.3

After all, the Fed had maintained that in both June and July,

1:03.5

50 basis points had already been decided.

1:06.5

It was a done deal and that's what the Fed was going to do.

1:10.0

Well, then a lot of people started to criticize the Fed

1:12.6

for boxing itself in to these 50 basis point rate hikes.

...

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