The Peter Schiff Show Podcast Powell Gets His Mind Right - The Peter Schiff Show Ep 1038
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Aug 25, 2025 Jerome Powell’s speech signals a crucial shift at the Federal Reserve amid rising stagflation concerns. The political pressure influencing Powell's policies raises questions about the integrity of government decisions. As inflation challenges mount, the abandonment of the 2% target complicates future rate cuts. Meanwhile, Schiff highlights the outperformance of gold, silver, and foreign stocks over U.S. equities, underscoring the need for a reassessment of investment strategies in light of troubling government interventions.
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Cool Hand Luke Comparison
- Schiff compares Powell's concession to the "mind right" scene in Cool Hand Luke where authorities break a prisoner.
- He uses the analogy to claim Trump forced Powell to change his stance under pressure.
Tariffs Framed As Inflation Driver
- Powell pointed to tariffs and immigration as drivers of higher inflation and weaker labor supply.
- Schiff views this as Powell blaming Trump policies while still conceding to rate cuts.
Fed Gives Up Inflation Averaging
- Powell quietly abandoned the Fed's 2% average-inflation target after acknowledging years above target.
- Schiff says averaging down years of high inflation is impossible and the Fed conceded that policy.