As we reported Wednesday, the Federal Reserve will likely refrain from raising interest rates in June. Economists predict the United States central bank will boost rates in September as Federal Open Market Committee (FOMC) discuss the merits of the harsh first quarter, weak GDP growth and a stronger dollar.
Peter Schiff, CEO of Euro Pacific Capital, thinks all of these rate hike hints are nothing but a bluff by the FOMC. Schiff spoke with CNBC on Tuesday regarding both the markets and the Fed’s intentions of lifting interest rates.
Note: this seems like the first television interview Schiff has had in a long time.
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