Thursday, June 27, 2013

The Fed's Next Big Definitive Announcement Will Be An Increase In QE Rather Than A Diminishment

"Rather than focus on the long term, the Fed is guided by the short-term realization that any significant withdrawal of support will cause a steep sell off on Wall Street, a spike in interest rates and an end to the reflating housing bubble. They are not prepared to tolerate any of these outcomes ... I believe that the Fed's next big definitive announcement will be an increase in QE rather than a diminishment." - in Newsmax  Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), SPDR SP 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)

Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies