by Mac Slavo
According to Peter Schiff, chief executive officer and president of the Westport, Connecticut-based Euro Pacific Capital, an inflation tsunami will slam into the United States. The Federal Reserve’s easy money policies are going to bring the inflation boogeyman back to America with a vengeance.
Costs are already rising and wages have not kept up with the spending of the average American. But it will get much worse according to Schiff’s predictions. “The reason the Fed had to start cutting rates was because last year the air really started to come out of that bubble,” Schiff told FOX Business’ Liz Claman on Wednesday. “So the Fed had to blow some air back in so this is not a strong economy, it’s never been a strong economy. The whole thing is an illusion.”