Federal Reserve Chairman Jerome Powell recently participated in an IMF roundtable with European Central Bank President Christine Lagarde and several other figures in global politics and banking.
In his podcast, Peter Schiff broke down Powell's comments and revealed that just about everything Powell said was wrong.
Powell started his presentation by talking about how strong the economy was prior to the pandemic.
Then Powell said the pandemic came along and screwed up this great economy.
"We didn't have a great recovery. We never recovered at all. We got even sicker. It's just that Powell didn't know that. All we did was spend the money that the Fed printed, and we're experiencing the consequences."
Powell mentioned inflation as if it came around out of nowhere and just rained on the parade.
Powell continued to talk tough about his war on inflation, saying a 50 basis point interest rate hike was definitely on the table for May and saying that the central bank would "Front-load" the rate hikes.
https://schiffgold.com/peters-podcast/jerome-powell-wrong-wrong-and-more-wrong/
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