The Fed That Cried Taper – Ep 733

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 23 September 2021

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Fed says the economy is great, but they will maintain the emergency policies they put in place when the economy was terrible.
* Fed will always choose to fight unemployment over #inflation.
* Fed turns blind eye to inflation because the alternative is a complete economic implosion.
* Fed’s policies disproportionately hurt African Americans.
* Republicans only care about the debt ceiling when they can use it as a political weapon.
* Jerome Powell dismisses concerns over #Evergrande and excess corporate leverage.
* Gold will explode and the dollar will implode when markets start to realize the #Fed keeps crying wolf.
* Gold went up with safe havens while Bitcoin fell with risk assets.

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Transcript

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0:00.0	The Peter Ships Show
0:09.0	Today's podcast is sponsored by Indeed.
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0:18.7	If you're hiring, you need Indeed.
0:21.6	And you can get started with a free $75 sponsored job credit to upgrade your job post at
0:28.1	Indeed.com slash Peter off for valid through September 30th, terms and conditions apply.
0:36.0	Well today we had the highly anticipated FOMC decision on interest rates and then the
0:45.0	now customary regular press conference with the Fed share pal that always follows the official
0:53.8	announcements.
0:54.8	Not first of all, not really to share why there's so much anticipation with respect to
0:59.7	these announcements because the Fed always says the same thing.
1:03.6	The economy is great.
1:05.4	Everything is going great.
1:06.9	Labor market is strong.
1:08.9	Inflation is contained.
1:10.4	Yet, you know, we're not raising rates.
1:12.5	We're not tapering our asset purchase program.
1:15.3	Everything is great, but we're not going to remove any of the emergency monetary policy
1:21.6	supports that we implemented when everything was terrible, even though everything is now
1:27.0	great, we're still going to continue with these policies because even though it's not
1:31.9	great, it's not perfect.
	...

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