Fed Caves With Aggressive Rate Cut - Ep 980
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 19 September 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
FOMC Rate Cut Analysis: Fed's Decision, Market Reactions, and Economic Realities
Peter Schiff analyzes the highly anticipated Federal Reserve rate cut following the two-day FOMC meeting, emphasizing its effects on the markets and broader economy. He critiques Jerome Powell's justification for the 50 basis points cut, the Fed's stance on inflation, and the true state of employment in the U.S. Schiff also discusses the contradictions in Trump's and Harris's economic promises, their implications for future fiscal policies, and the potential consequences for the U.S. dollar, interest rates, and the overall economy. He highlights the ongoing issues with the national debt and the risks of price controls. Additionally, Schiff advises on investment strategies, including gold, silver, and international equities, amid the anticipated economic downturn.
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01:39 Market Reactions and Predictions
02:36 Inflation and Price Controls Discussion
05:11 Trump's Economic Policies and Price Controls
08:53 Interest Rates and Economic Indicators
16:37 Fed's Rate Cut and Market Impact
28:19 Questioning the Strength of the Economy
29:01 The Fed's Balance Sheet Dilemma
30:01 Historical Perspective on Interest Rates
33:33 The Recession and Rising Interest Rates
38:27 Trump's Economic Promises and Criticisms
47:13 Preparing for the Economic Collapse
51:09 Investment Strategies for the Future
53:09 Conclusion and Final Thoughts
#FOMCMeeting #InterestRates #EconomicOutlook
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Transcript
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| 0:00.0 | The Peter Shipp Show. |
| 0:09.0 | Today's podcast is sponsored by Net Suite,-to-use cloud-based business management |
| 0:13.8 | software for every aspect of your business. Download the CFO's guide to AI and |
| 0:18.9 | machine learning at NetSuite.com slash gold. The guide is free to you at NetSuite.com slash gold. The guide is free to you at Net Suite |
| 0:23.6 | dot com slash gold. Well today we had the conclusion of the two-day |
| 0:32.0 | FOMC meeting where the Fed announced probably the most highly |
| 0:38.6 | anticipated rate cut in history because remember there was no doubt that the Fed was going to cut rates at this meeting. |
| 0:50.0 | So the only thing the markets were trying to figure out was by how much the Fed was going to cut. |
| 0:57.0 | Was it going to be 25 basis points or was it going to be 50 basis points? |
| 1:02.0 | Now anybody who is a regular listener of my podcast |
| 1:05.7 | knows that I have been in the 50 basis point camp |
| 1:09.5 | for a long time. |
| 1:10.6 | In fact, when the Fed didn't cut rates at all in July, I said that the next thing they're |
| 1:17.1 | going to do is cut by 50. In fact, I thought they wouldn't even wait for a meeting. |
| 1:21.3 | There was a chance they would have cut right away and they would have had the stock markets continue to sell off the way they did the week prior to that |
| 1:33.4 | the statement and immediately following the feds lack of a rate cut. |
| 1:35.8 | And so I've been saying 50 basis points for a long time, |
| 1:40.2 | but it wasn't until probably last week that the markets got to where I was where the |
| 1:47.5 | probability of 50 was actually slightly greater than the probability of 25. |
| 1:54.2 | But it was 100% probability they were going to do something. |
| 1:58.0 | And so the Fed delivered on what I have been expecting. |
| 2:01.6 | In fact, once I saw that the markets were |
... |
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