The Fed Has No Intention Of Raising Interest Rates

“The Fed has been bluffing the entire time,” Peter Schiff said After the FOMC policy statement Wednesday. “It has no intention of raising rates, but it can’t come clean and admit that, so it has to pretend that it is going to do something it’s not going to do, so it does not reveal the fragility of the US economy.” GDP expanded 2.4% last year. Eventually Fed policymakers will increase rates, Mr. Schiff said. But they will do so “not because they want to, but because they have to, because the markets will give them no choice, because I think we will have a currency crisis. . . . It’s going to make Y 2008 look like a Sunday school picnic.”



Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.