Fed’s Open Mouth Operations Having Complications – Ep. 54
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 19 February 2015
⏱️ 21 minutes
🧾️ Download transcript
Summary
* Two days of bad economic news this shortened week
* The Fed still says the economy is recovering
* Recent FOMC minutes maintains pretense they can raise interest rates
* FOMC members are worried about raising rates "too soon"
* The Fed is worried about how to remove the word "patient" from communications
* How confident can the Fed be in the "recovery" if they still fear raising interest rates?
* The "recovery" was just a bubble masquerading as a recovery
* If we had a real recovery the Fed could have already raised rates
* They are now concerned about weakness overseas
* They are worried about a strong dollar
* They expressed concerns about the risks of lower oil prices
* Low inflation causes concerns
* The Fed is clearly paying attention to the negative economic news
* Empire State Manufacturing down
* Home Builder Confidence at 4-month low
* Industrial production weak
* PPI number declined .8
* Eventually the economic numbers will force the Fed to acknowledge weakness and resume stimulus
Our Sponsors: * Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me * Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai * Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
Click on a timestamp to play from that location
| 0:00.0 | about Peter Schiff's show. |
| 0:08.8 | Well we are two trading days into a four trading day holiday shortened week. |
| 0:14.8 | We had the Monday Presidents Day holiday where the markets were closed and thus far we've |
| 0:21.0 | had two days of bad economic news which is pretty much par for the course that we've been |
| 0:25.8 | playing on for some time. |
| 0:27.7 | Yet the markets don't care, the foreign exchange markets don't care, the precious metals |
| 0:33.4 | markets don't care. |
| 0:34.4 | In fact gold sold off rather sharply yesterday despite the fact that we have all this bad |
| 0:40.3 | economic news because everybody is still confident that the economy is in great shape |
| 0:45.4 | because the Fed tells us that the economy is in great shape. |
| 0:49.3 | After all they're getting ready to raise interest rates and they wouldn't be doing that. |
| 0:54.0 | But they weren't so confident that the economy was recovering. |
| 0:57.0 | So we ignore all the bad economic news and blindly follow the Fed. |
| 1:02.3 | And in fact the Fed came out today with the release of its most recent FOMC minutes. |
| 1:08.1 | And I guess everybody was anticipating more positive spin from the Fed and while we got |
| 1:14.1 | some, the Fed still maintains the pretense that they can raise interest rates without derailing |
| 1:20.3 | the recovery. |
| 1:21.4 | Right. |
| 1:22.4 | When the fact of the matter is there is no recovery. |
| 1:24.2 | So there's nothing to derail. |
| 1:26.3 | But if they raise rates we'd have a train wreck. |
| 1:29.1 | And I think even if they don't we will. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Peter Schiff, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Peter Schiff and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.