It will be the “same old policies,” under Yellen, now Fed vice chairman, but she’ll be even more dovish than current Fed Chairman Ben Bernanke,
“I used to think that Alan Greenspan was the worst Fed chairman we ever had until Bernanke was appointed. He kind of let Greenspan off the hook,” Schiff told Yahoo Finance Yesterday
“My guess is that Janet Yellen will return the favor, and Ben Bernanke won’t go down in history as the worst Fed chairman. It’s going to be Janet Yellen.”
She will bow to pressure from liberal Democrats to “keep stimulating the economy through cheap money, even though it doesn’t work,” He added.
“I think she’s going to be leading the Fed in a dangerous direction.”
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as “Doctor Doom” because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called “Crash Proof” and a follow-on called “The Little Book of Bull Moves in Bear Markets”. He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.