Fed Finally Launches the Taper, Now What? – Ep 747
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 4 November 2021
⏱️ 56 minutes
🧾️ Download transcript
Summary
* Markets blessed Fed’s decision to begin tapering.
* Jerome Powell says economy is healthy, but requires monetary policy of an economy in crisis.
* Full employment is subjective and rarely achieved.
* Powellnomics: It’s inappropriate to have interest rates above 0% in an economy that’s not at 100% employment.
* Fed knows the economy is hanging by a threads, and that thread is 0% interest rates.
* It doesn’t matter who the President of the United States is. What matters is who runs the Federal Reserve.
* Dollar falling may be investors buying the rumor and selling the news.
* No bad news in sight for gold, and no good news in sight for the dollar.
* Don’t pick up pennies in front of steam rollers.
* Zillow’s moronic house flipping business model caves.
* Don’t confuse brains for a bull market or a bubble.
* Taper is fully priced into gold and silver market.
* Don’t jump onto a moving train; get on it before it leaves the station.
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Transcript
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| 0:46.7 | year subscription package. |
| 0:49.0 | Today we have the conclusion of another two day federal open market committee meeting |
| 0:55.0 | following the conclusion of the second day we get the fed's decision on interest rates |
| 1:01.3 | and as expected the fed decided once again to leave interest rates at zero. |
| 1:07.3 | Nobody expected the fed to raise interest rates. |
| 1:10.2 | The question was would the fed finally announce the beginning of the highly anticipated |
| 1:17.3 | tapering process? |
| 1:19.1 | And if you look at the odds of the announcement of the taper prior to the meeting, I think |
| 1:24.7 | it was about an 80% probability that the fed would announce the taper. |
| 1:30.7 | There was only a small probability that it would hold off and announce it maybe at the |
| 1:35.0 | next meeting. |
| 1:36.2 | So I think the fed pretty much had a clear signal that the market has had blessed a decision |
| 1:43.5 | to begin the taper because after all the S&P the Dow were sitting at all time record |
| 1:48.5 | highs. |
... |
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