Economist Peter Schiff warned that the inflation problem would worsen and predicted that 2023 would be “one of the worst years” for the US dollar.
Schiff said, “The Dollar Index closed 2022 at a 6-month low. It came down 10 percent from its peak in November. This weakness will most likely continue in 2023 and the dollar will experience one of its worst years. “If I’m right, the inflation problem will get worse,” he said.
Criticizing the statements made by Wharton University finance professor Jeremy Siegel to CNBC last week, Schiff said, “In my opinion, Jeremy Siegel is wrong in his predictions. Siegel believed that falling real estate prices meant that the threat of inflation was over. However, consumer prices will continue to rise,” he said.
Schiff also argued that in the pre-poor-performing stock sectors of 2022, this poor performance is likely to repeat in 2023.
foreks.com