Leading economists are sounding the alarm in the lead-up to the Federal Open Market Committee meeting next week, with warnings of a sharp rise in inflation that will take a toll on working families.
1970s-Style Inflation Shock
On Thursday, in a post on X, Economist Peter Schiff warned that, together, the policies of President Donald Trump and the potential interest rate cut by the Federal Reserve next week, “will be the most inflationary since the 1970s,” while adding that given the “much weaker financial position the U.S. is in now than it was then, the consequences will be greater.”
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Schiff, who has long been a vocal critic of both the Federal …