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| ‘Lather, rinse, repeat’: US Fed will crash the stock market like in 1987, strategist tells Boom Bust | ‘Lather, rinse, repeat’: US Fed will crash the stock market like in 1987, strategist tells Boom Bust |
| (2 months later) | |
| Federal Reserve Chair Jerome Powell has affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. | Federal Reserve Chair Jerome Powell has affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. |
| Boom Bust explores how the economy is reacting to all the developments during the Covid-19 pandemic. | Boom Bust explores how the economy is reacting to all the developments during the Covid-19 pandemic. |
| The United States has a massive increase in “unproductive debt,” and is facing inflation, says Michael Pento, CEO of Pento Portfolio Strategies. “There’s nothing more misunderstood on Wall Street than inflation,” he says. | The United States has a massive increase in “unproductive debt,” and is facing inflation, says Michael Pento, CEO of Pento Portfolio Strategies. “There’s nothing more misunderstood on Wall Street than inflation,” he says. |
| Pento explains that there will be a super spike in interest rates in the second quarter of 2021, “and then I believe it will all come crashing down by the third quarter.” | Pento explains that there will be a super spike in interest rates in the second quarter of 2021, “and then I believe it will all come crashing down by the third quarter.” |
| “There will be a fiscal drag on the economy, the Federal Reserve’s going to make a lot of noise about tapering, it’s going to crash the stock market, it’s going to look a lot like 1987,” he says. “And then yields will come back down again. Lather, rinse, repeat.” | “There will be a fiscal drag on the economy, the Federal Reserve’s going to make a lot of noise about tapering, it’s going to crash the stock market, it’s going to look a lot like 1987,” he says. “And then yields will come back down again. Lather, rinse, repeat.” |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |