While Wall Street waits on whether or not the Fed
will include the word "patient" in its statement Wednesday, the CEO of
Euro Pacific Capital is instead waiting for something else: another
round of quantitative easing .
"I think the Fed is more likely to launch QE4 than it is to raise interest rates," Schiff told "Futures Now"
on Tuesday. "Wall Street is looking for the Fed to take [the word
'patient'] away because the Fed wants to maintain the pretense that they
are actually going to raise rates, but I don't think that's going to
happen at all."
Despite a falling unemployment rate and record stock prices (ASX: SPY-AU),
Schiff contends the U.S. economy is much weaker than it appears, and
that any move by the central bank to raise rates would only derail an
already fragile economy.http://finance.yahoo.com/news/forget-patience-qe4-coming-peter-203844732.html
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