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Peter Schiff: Enjoy the Calm Before the Storm

• https://www.lewrockwell.com, SchiffGold.com

With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds against the yellow metal. Last week, the Fed released its March FOMC minutes and most analysts interpreted them as "hawkish." In fact, many people now think the Fed will nudge rates up again in June, leaving six months to get in the much-anticipated third hike of the year and possibly even get in a fourth.

The Fed bases its hawkishness on its anticipation of continued strong economic growth and increasing inflation. Peter said they have it half right. Inflation is going to continue to increase. But the central bankers don't even really have that right. Peter says inflation is actually going to go up faster than projected. The bottom line is that the Fed isn't going to be able to push through all of these rate hikes.

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