Fox Business Channel -'Great Recession' to Hit US, Jeopardize Trump's Reelection Hopes: Peter Schiff

Article by Henry Fernandez in Fox Business Channel

The U.S. economy Opens a New Window.  is heading into a free fall that will be worse than the Great Recession of 2008, according to Euro Pacific Capital CEO Opens a New Window.  Peter Schiff.

The economic forecaster is predicting the Federal Reserve Opens a New Window.  will cut interest rates to zero and launch quantitative easing, a monetary policy where the central bank purchases Treasuries from financial institutions to stimulate the economy.

“The dollar is going to go through the floor and it’s going to take the bond market with it and the next crisis, it’s not subprime mortgages, it’s going to be in the Treasury market,” he said on “After the Bell Opens a New Window. ” on Wednesday.

Schiff added that the economy is on the verge of going through a period of stagflation or a period of rising inflation.

“As we move into this recession, consumer prices are going to rise even faster and once the dollar starts to fall that’s going to push consumer prices up even more,” he said.

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