Peter Schiff Was Right

CNBC has just reported that the Fed has announced that they will not be hiking interest rates in September. Rather, it will be March 2016 at the earliest.

Peter Schiff has been saying that the Fed cannot raise interest rates in September because the economy is not strong enough.

The Fed was hoping, according to Schiff, to move the markets in the direction it wanted by merely talking about hiking interest rates.

Schiff went on to say that another round of Quantitative Easing is more likely than a rise in interest rates. It will be interesting to see of that comes to pass.