Market Sets Up for Fed Rate Cut in September, Says Gold Bug Peter Schiff
CryptoNewsTerminal Staff19 Aug, 2024
Market Sets Up for Fed Rate Cut in September, Says Gold Bug Peter Schiff
Peter Schiff, the well-known gold proponent and bitcoin critic, believes the Fed will reduce interest rates in September. "The market now anticipates a rate cut in September. That's why US stocks have recovered since Monday's sell-off. The market has already priced in a rate cut for September. So Jerome Powell has no reason not to lower rates. He constantly seeks to satisfy market expectations and dislikes surprising it," he remarked.
