Peter Schiff: The Fed Didn't Create The Inflation Problem Last Year; It Was Decades In The Makin

10-11-2022 • Zero Hedge - Tyler Durden

It's easy to look back over the post-pandemic era and say the Federal Reserve stayed too loose for too long in the face of rising CPI. For months, the central bank ignored the inflation problem, claiming it was transitory. But as Peter Schiff pointed out in a podcast, the loose money problem isn't anything new. It's been going on for decades.

You can trace the Fed's inflationary monetary policy all the way back to 1998 and the Long-Term Capital Management bailout.

That's when the Fed really started printing money. And then it printed even more money in advance of Y2K. And then even more money after the NASDAQ bubble popped in 2000. And even more money after the real estate bubble popped in 2008. So, it's not just one year of excess money printing. The Fed has been too loose for almost 25 years, flooding the economy with cheap money."