Summary
- Peter Schiff reported that the U.S. Dollar Index fell below 96.5.
- He predicted that the Dollar Index would decline by more than 20% additionally by the end of this year.
- Schiff stated that the Fed should implement an interest rate hike and withdraw the plans for rate cuts.
There has been a call for the Federal Reserve (Fed) to raise interest rates immediately.
On the 1st (local time), Peter Schiff, a Bitcoin (BTC) commentator and economist, stated on X (formerly Twitter), "The U.S. Dollar Index has fallen below 96.5 and continues to collapse," and added, "I expect it to fall by more than 20% additionally by the end of this year."
He continued, "To prevent the collapse of the dollar from causing a surge in prices next year, the Fed must raise interest rates immediately," and stated, "At the very least, this year's planned interest rate cuts should be withdrawn."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
