Jerome Powell’s Jackson Hole speech marks a major pivot at the Federal Reserve. Peter Schiff explains how political pressure from the Trump administration has forced Powell’s hand, why stagflation is now undeniable, and what this means for gold, the dollar, and the future of the U.S. economy.
This episode is sponsored by NetSuite. Download the free ebook “Navigating Global Trade: 3 Insights for Leaders” at https://netsuite.com/gold
In this Sunday Night Live edition of The Peter Schiff Show, Peter compares Powell’s capitulation to the “mind right” scene in Cool Hand Luke, warns about the Fed’s coming return to QE, and exposes the dangerous precedent of the U.S. government seizing a 10% stake in Intel. Schiff lays out why gold, silver, and foreign stocks are outperforming, and why the next phase of the crisis will be even more severe.
00:00 Introduction and Opening Remarks
02:15 Powell’s Jackson Hole Speech: A Sober Assessment
06:48 Trump’s Pressure and Powell’s “Mind Right” Moment
12:02 Comparing Trump and Biden Economies
18:37 Stagflation Confirmed: Weak Growth, Stronger Inflation
24:10 Fed Policy, Employment Risks, and Inflation Mandate
29:44 The End of Inflation Averaging at 2%
36:50 Rate Cuts, Quantitative Tightening, and QE Ahead
44:15 Market Reactions: Stocks, Bonds, and the Dollar
51:28 Gold and Silver Surge vs. Bitcoin’s Underperformance
58:44 Mining Stocks: GDX and GDXJ Leading 2025 Returns
01:05:37 Foreign Stocks and the Great Rotation Out of U.S. Equities
01:12:52 Intel’s 10% Government Stake and Rising Corporatism
01:20:46 Investment Strategy: Gold, Mining, and Foreign Markets
01:28:14 Conclusion and Schiff Sovereign Update
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