Peter Schiff
On Friday the Federal Reserve released minutes from its most recent Advisory Council and Board of Governors meeting. Contained within were a host of startling admissions. As Peter Schiff, CEO of Euro Pacific Capital and host of The Peter Schiff Show, notes in his most recent commentary, the Fed's candidness about the risks Quantitative Easing is injecting into the economy is unusually forthright. Specifically, the Fed acknowledges that:

- Low bond yields may encourage "unsophisticated" investors to seek riskier investments
- There remains the risk of a "breakout" of inflation
- Once interest rates start climbing, Americans' bank deposits could be jeopardized due to the ways banks are seeking more profitable returns on these deposits.
- Most shocking of all, the Fed admits there may be no easy exit from QE ("It will likely be difficult to unwind policy accommodation, and the end of monetary easing may be painful for consumers and businesses.")

In Schiff's commentary, he combines the Fed's assessment with a raft of economic data from last week, showing that in some respects (such as household income) the economy is faring worse during the recovery than it did during the recession. In response to the news, Schiff says Sunday night could see a drop-off in Asian trading.


Peter Schiff

An expert on money, economic theory, and international investing, Peter is a highly recommended broker by many leading financial newsletters and investment advisory services. He is also a contributing commentator for Newsweek International and served as an economic advisor to the 2008 Ron Paul presidential campaign.