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Economic Times
2 days ago
- Business
- Economic Times
Peter Schiff sounds alarm: America faces economic doom as Fed powerless against hyperinflation threat
Peter Schiff Sounds the Alarm on the US Economy Fed Leaves Rates Unchanged Again Inflation and Weak Economy Ahead? Live Events Peter Schiff Predicts Higher Inflation and a Sluggish Economy FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Economist Peter Schiff has issued a stark warning about the US economy and criticised the Federal Reserve's decision to keep its benchmark federal funds rate unchanged at a current range of 4.25% to 4.5%, as per a Fox Business' "The Claman Countdown", Schiff told host Liz Claman that the "biggest takeaway is that Powell basically admitted that they have no idea what's going to happen," quoted Fox Business. He said, "They don't really know what's going to happen to consumer prices. They don't know what's going to happen to employment," and added, "I don't even think their forecasts are educated guesses so much as wishful thinking," as quoted in the READ: Trump's big headache? U.S faces mounting risk to 40,000 troops in Middle East as Iran threatens response His remark came after the Federal Open Markets Committee (FOMC) kept the central bank's benchmark interest rate at its current level and also released a summary of economic projections, which is also known as the "dot plot," reported Fox Business. This showed that the members expect two Fed interest rate cuts in 2025, followed by one cut each in 2026 and 2027, as per the FOMC also forecasted that PCE inflation will increase to 3% this year and then fall to 2.4% in 2026 and 2.1% in the following year, as per Fox Business reported. While the real GDP is projected to contract to 1.4% in 2025 before growth picks up to 1.6% in 2026 and 1.8% in 2027, according to the report. FOMC also expected that unemployment would increase to 4.5% in 2025 and 2026, before falling to 4.4% in 2027, as per the who is the chief economist at Euro Pacific Asset Management, said that he thought inflation will be "a lot higher" than the Fed expects and that the US economy will be "a lot weaker," as quoted by Fox Business. He also said that the "big problem" for inflation is "all of the inflation chickens that the Fed has been releasing for more than a decade are coming home to roost," as quoted by Fox went on to predict that the United States will experience stagflation "with a recession and much higher inflation happening at the same time, really complicating the defense ability to try to do something about either problem," as quoted in the report. The economist also warned that America is on the path to "runaway inflation" that could become " hyperinflation ," quoted Fox explained that lower interest rates will not help the US economy, and even said that it was the "cause," as per the suggested that, "The solution involves much higher interest rates," adding, "Now, I understand that's going to be very painful, given the economy that we've created, built on a foundation of cheap money," quoted Fox economist pointed out that "It means stock prices come down, real estate prices go down, companies fail," adding, "There's going to be bankruptcies. There is going to be defaults. There's going to be a protracted recession, probably a much worse financial crisis than 2008, but all that has to happen because the alternative to that is even worse," as quoted in the criticised the Fed for keeping interest rates unchanged and said they are relying on "wishful thinking," as per Fox Business expects inflation to be much higher than the Fed is forecasting.
Time of India
2 days ago
- Business
- Time of India
Peter Schiff sounds alarm: America faces economic doom as Fed powerless against hyperinflation threat
Peter Schiff Sounds the Alarm on the US Economy Fed Leaves Rates Unchanged Again Inflation and Weak Economy Ahead? Live Events Peter Schiff Predicts Higher Inflation and a Sluggish Economy FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Economist Peter Schiff has issued a stark warning about the US economy and criticised the Federal Reserve's decision to keep its benchmark federal funds rate unchanged at a current range of 4.25% to 4.5%, as per a Fox Business' "The Claman Countdown", Schiff told host Liz Claman that the "biggest takeaway is that Powell basically admitted that they have no idea what's going to happen," quoted Fox Business. He said, "They don't really know what's going to happen to consumer prices. They don't know what's going to happen to employment," and added, "I don't even think their forecasts are educated guesses so much as wishful thinking," as quoted in the READ: Trump's big headache? U.S faces mounting risk to 40,000 troops in Middle East as Iran threatens response His remark came after the Federal Open Markets Committee (FOMC) kept the central bank's benchmark interest rate at its current level and also released a summary of economic projections, which is also known as the "dot plot," reported Fox Business. This showed that the members expect two Fed interest rate cuts in 2025, followed by one cut each in 2026 and 2027, as per the FOMC also forecasted that PCE inflation will increase to 3% this year and then fall to 2.4% in 2026 and 2.1% in the following year, as per Fox Business reported. While the real GDP is projected to contract to 1.4% in 2025 before growth picks up to 1.6% in 2026 and 1.8% in 2027, according to the report. FOMC also expected that unemployment would increase to 4.5% in 2025 and 2026, before falling to 4.4% in 2027, as per the who is the chief economist at Euro Pacific Asset Management, said that he thought inflation will be "a lot higher" than the Fed expects and that the US economy will be "a lot weaker," as quoted by Fox Business. He also said that the "big problem" for inflation is "all of the inflation chickens that the Fed has been releasing for more than a decade are coming home to roost," as quoted by Fox went on to predict that the United States will experience stagflation "with a recession and much higher inflation happening at the same time, really complicating the defense ability to try to do something about either problem," as quoted in the report. The economist also warned that America is on the path to "runaway inflation" that could become " hyperinflation ," quoted Fox explained that lower interest rates will not help the US economy, and even said that it was the "cause," as per the suggested that, "The solution involves much higher interest rates," adding, "Now, I understand that's going to be very painful, given the economy that we've created, built on a foundation of cheap money," quoted Fox economist pointed out that "It means stock prices come down, real estate prices go down, companies fail," adding, "There's going to be bankruptcies. There is going to be defaults. There's going to be a protracted recession, probably a much worse financial crisis than 2008, but all that has to happen because the alternative to that is even worse," as quoted in the criticised the Fed for keeping interest rates unchanged and said they are relying on "wishful thinking," as per Fox Business expects inflation to be much higher than the Fed is forecasting.
New York Post
03-06-2025
- Business
- New York Post
Marriott targets budget travelers with new mid-scale extended-stay option
Marriott International CEO Anthony Capuano shared some insight on budget travelers during a Monday appearance on 'The Claman Countdown.' He told host Liz Claman that Marriott International's lower-income consumers 'continue to prioritize travel, but they want to do it at a more thrifty price point,' citing spending data the company has through its credit card relationships. That has driven Marriott International to 'push so strongly over the last two years into the mid-scale segment, which is a segment that historically we did not operate in,' according to Capuano. He said it started with the company's acquisition of City Express. The company acquired the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. in 2022 for $100 million. 'We also organically developed an extended-stay mid-scale product called StudioRes,' he noted to Claman. Marriott's first StudioRes opened on Monday in Fort Myers, Florida. The extended-stay hotel 'offers studio-style rooms complete with one or two beds, a lounging area, and a kitchen with a stovetop microwave, and full-sized refrigerator,' according to a press release. Asked about what makes it different from Marriott's other brands, Capuano told Claman it 'starts with the price point.' Marriott International CEO Anthony Capuano revealed that the hotel brand has been pushing strongly into the 'mid-scale segment' of the industry for budget travelers. Helayne Seidman 'It starts with much more modest services,' he added. 'These are folks that could be on a temporary assignment, maybe a construction project or a consulting assignment. They could be digital nomads.' He said 'that product at that price point is really resonating with more cost-conscious consumers.' Capuano also touted the 'breadth' of Marriott's portfolio, saying the company can 'offer the right accommodation for every trip purpose, which often varies irrespective of income.' Marriott's brands include the Ritz-Carlton, St. Regis, Sheraton, Courtyard, Westin, Moxy and others. The company generated $6.26 billion in revenue during the first quarter. Its net income, meanwhile, came in at $665 million.
Yahoo
30-05-2025
- Automotive
- Yahoo
GM CEO backs Trump's auto tariffs as a tool to help US manufacturers
General Motors CEO Mary Barra is voicing support for the Trump administration's automotive tariffs, arguing they allow U.S. automakers to compete more fairly in the international market. "For decades now, it has not been a level playing field for U.S. automakers globally with either tariffs or non-tariff trade barriers," Barra, chair and CEO of General Motors, said at The Wall Street Journal's Future of Everything conference Wednesday. "I think tariffs are one tool that the administration can use to level the playing field." On Thursday, a federal appeals court made the decision to allow U.S. President Donald Trump's tariffs to remain in effect temporarily. In response to Trump's 25% tariff on all imported automobiles and automobile parts, General Motors is continuing to take steps to strengthen its North American manufacturing. Trump Tariffs Face Legal Battle As Federal Appeals Court Temporarily Blocks Trade Ruling "We already were on a process to have more resiliency in this country, and we're just going to continue on that as we move forward," Barra told "The Claman Countdown" Thursday. Read On The Fox Business App Gm To Pour $888M Into Building New V-8 Engine In New York General Motors, headquartered in Detroit, forecast earlier this month a hit of up to $5 billion in 2025 from the auto tariffs. However, Barra said the company is working to leverage some excess capacity it has in the U.S., including through an $888 million investment at a New York propulsion plant to create a next-generation V-8 engine. "We're investing in this country, and we're making those decisions as we go," she said. "Just under $900 million. [It's] the most significant engine investment we've made in history." Gm Ceo Breaks Silence Over Tariff Pressure And What It Means For Your Wallet Over the last five years, after the COVID-19 pandemic and the subsequent global semiconductor shortage, the multinational automaker has also moved more than 25% of its supply chain to the U.S. Fewer than 3% of the automaker's direct parts now come from China, she said. Earlier this month, GM also made the move to stop exporting some vehicles to China from the U.S. "There's still more deals to do, so we're waiting for that," she said. "But there are certain moves that we're already making to strengthen our North American manufacturing, because we can do that with the clarity we already have." However, as General Motors increases its U.S. investment, Barra is not making any promises when it comes to vehicle pricing for consumers. Pricing has always been dynamic, with new features and options constantly emerging, she said. "I'm saying it's a dynamic situation, and we're going even before the word tariff was something we talked about a lot," Barra said. "We're going to work to make sure we remain competitive, but I'm very pleased that the strength of our products (is) driving consumer interest."Original article source: GM CEO backs Trump's auto tariffs as a tool to help US manufacturers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
30-05-2025
- Automotive
- New York Post
GM CEO Mary Barra backs Trump's auto tariffs as a tool to help US manufacturers ‘level the playing field'
General Motors CEO Mary Barra is voicing support for the Trump administration's automotive tariffs, arguing they allow U.S. automakers to compete more fairly in the international market. 'For decades now, it has not been a level playing field for U.S. automakers globally with either tariffs or non-tariff trade barriers,' Barra, chair and CEO of General Motors, said at The Wall Street Journal's Future of Everything conference Wednesday. Advertisement 'I think tariffs are one tool that the administration can use to level the playing field.' On Thursday, a federal appeals court made the decision to allow U.S. President Donald Trump's tariffs to remain in effect temporarily. In response to Trump's 25% tariff on all imported automobiles and automobile parts, General Motors is continuing to take steps to strengthen its North American manufacturing. 'We already were on a process to have more resiliency in this country, and we're just going to continue on that as we move forward,' Barra told 'The Claman Countdown' Thursday. Advertisement General Motors, headquartered in Detroit, forecast earlier this month a hit of up to $5 billion in 2025 from the auto tariffs. However, Barra said the company is working to leverage some excess capacity it has in the U.S., including through an $888 million investment at a New York propulsion plant to create a next-generation V-8 engine. 3 General Motors CEO Mary Barra says she supports President Trump's automotive tariffs. AP 'We're investing in this country, and we're making those decisions as we go,' she said. Advertisement 'Just under $900 million. [It's] the most significant engine investment we've made in history.' Over the last five years, after the COVID-19 pandemic and the subsequent global semiconductor shortage, the multinational automaker has also moved more than 25% of its supply chain to the U.S. 3 The chair and CEO of General Motors believes that Trump's tariffs will allow U.S. automakers to compete more fairly in the international market. Chris Kleponis/POOL via CNP/ Fewer than 3% of the automaker's direct parts now come from China, she said. Advertisement Earlier this month, GM also made the move to stop exporting some vehicles to China from the U.S. 'There's still more deals to do, so we're waiting for that,' she said. 3 At The Wall Street Journal's Future of Everything conference on Wednesday, Barra said, 'For decades now, it has not been a level playing field for U.S. automakers globally with either tariffs or non-tariff trade barriers.' Getty Images 'But there are certain moves that we're already making to strengthen our North American manufacturing, because we can do that with the clarity we already have.' However, as General Motors increases its U.S. investment, Barra is not making any promises when it comes to vehicle pricing for consumers. Pricing has always been dynamic, with new features and options constantly emerging, she said. 'I'm saying it's a dynamic situation, and we're going even before the word tariff was something we talked about a lot,' Barra said. 'We're going to work to make sure we remain competitive, but I'm very pleased that the strength of our products (is) driving consumer interest.'
