Yahoo! Finance’s Breakout interviewed Peter Schiff about the Federal Reserve’s contradictory announcement to taper QE while essentially guaranteeing 0% interest rates for years to come. Peter argues that if the markets can’t stomach higher interest rates in the middle of a recovery, when will the Fed be able to justify raising rates again?
“They tightened by easing. In fact, Ben Bernanke claimed that he wasn’t tightening. In fact, I think he thinks that the zero percent interest rates are more important than the QE… If it really is a recovery, why do we have any QE at all? Why are interest rates still at zero? The Fed is more accommodative now, five years into a so-called recovery, than it had ever been in the past at the depth of a recession.”
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