Economist Peter Schiff explains that the inflation threat under President Donald Trump is not just due to his tariff policies and the Iran War, but larger macro issues.
On Sunday, Schiff argued on X that tariffs and war are not the main reasons driving inflation more under Trump than under former President Joe Biden.
Instead, he believes rising government deficits and the Federal Reserve's efforts to suppress long-term interest rates will be the main triggers of higher inflation.
"The primary driver will be the surge in deficit spending and the Fed's efforts to limit the rise in long-term interest rates," wrote Schiff.
Read Also: Jamie Dimon Sees Echoes Of Past Crashes In Today's 'Gung Ho' Market Sentiment: 'Doesn't Give Me Comfort' Rising Debt Fuels Economic Debate This statement comes in the wake of Schiff's previous criticism of Trump's economic policies.
