Economist Peter Schiff Warns of ‘Full-Blown Financial Crisis’ Hitting US Economy Before Fed Reaches Inflation Target
Economist Peter Schiff has warned about an impending “full-blown financial crisis” that he expects to hit the U.S. economy before the Federal Reserve reaches its inflation target. He further predicted that the financial crisis will force the Fed to raise its inflation target. Peter Schiff’s Latest Warnings Gold bug and economist Peter Schiff warned of an impending U.S. financial crisis in a series of posts on the X social media platform this week. Commenting on Federal Reserve Chairman Jerome Powell’s speech at the central bank’s Jackson Hole symposium regarding inflation on Friday, Schiff wrote: “During his Jackson Hole speech, Powell admitted that the Fed still has a long way to go to achieve its 2% inflation target.” The gold bug exclaimed: That’s a gross understatement, as a full-blown financial crisis will ensue long before the target is hit, forcing the Fed to raise the target above 2%. In a follow-up post, the economist wrote: How can Powell give a speech about inflatio