Fox Business Channel - Peter Schiff: If the Fed Cut Rates, the Stock Market Should Not be Celebrating
Article by Jennifer Eckhart in Fox Business
Euro Pacific Capital CEO Peter Schiff is sounding the alarm on the Federal Reserve Opens a New Window. who signaled its ready to take action and potentially cut interest rates if the trade wars continue and impact the economy.
“The markets should not be celebrating the Federal Reserve cutting rates,” he told FOX Business’ Liz Claman Opens a New Window. on Tuesday.
Schiff, who was one of the first to have predicted that the U.S. central bank Opens a New Window. would cut rates back in December of 2018, is warning that the U.S. economy is very close to experiencing a severe recession.
“The stock market has become untethered from reality. Investors should look to undervalued non-dollar stocks, bonds, gold and gold mining stocks,” he said on "Countdown to the Closing Bell Opens a New Window. .”
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