The Economy News

Peter Schiff: Dollar Decline Means Lower Inflation Is Transitory

The decline in the US dollar's purchasing power on international markets suggests that inflation may not be as under control as the mainstream perspective suggests, according to economist Peter Schiff. The dollar index fell below 100 for the first time and hit its lowest level since April 2022 last week. Schiff argues that the drop in the Consumer Price Index (CPI) has primarily been driven by the strength of the dollar, which acts as a tightening mechanism. However, as the dollar weakens, it could lead to a revival of price inflation, meaning the recent cooling in CPI may be transitory.

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2.6K viewsJul 19, 2023 at 08:39

Peter Schiff: Dollar Decline Means Lower Inflation Is Transitory

The decline in the US dollar's purchasing power on international markets suggests that inflation may not be as under control as the mainstream perspective suggests, according to economist Peter Schiff. The dollar index fell below 100 for the first time and hit its lowest level since April 2022 last week. Schiff argues that the drop in the Consumer Price Index (CPI) has primarily been driven by the strength of the dollar, which acts as a tightening mechanism. However, as the dollar weakens, it could lead to a revival of price inflation, meaning the recent cooling in CPI may be transitory.

📈 www.tg-me.com/sg/The Economy News/com.TheEconomyNews

BY The Economy News