After the August CPI report showed price inflation heating up again thanks to rising gasoline prices, Peter Schiff appeared with Jesse Kelly on First TV to answer the question: are we heading? Peter said this story is going to have a tragic ending.

Peter opened the interview by pointing out that the current spate of price inflation had its origins in the 2008 financial crisis.

What the government did in response to that crisis – QE1, QE2, QE3 – all of that, plus what we did during COVID, that is the source of all this inflation. And it's going to continue to get worse as long as we continue to run these massive deficits."