Economist Peter Schiff is raising concerns regarding a recent comment made by Eric Trump, the son of President Donald Trump, suggesting that it may reflect broader views of the White House on the state of the U.S. economy.
White House Aware of Economy’s ‘Underlying Weakness’
On Sunday, in a post on X, Schiff commented on Trump’s prediction that the Federal Reserve will soon return to quantitative easing, a policy that involves the central bank buying bonds to inject liquidity into the economy.
See Also: Bitcoin’s Final Act In Q4 Could Lift It Beyond $130,000, Analyst Says
“If Eric believes this, chances are his father does too,” Schiff said, implying that the younger Trump's comments likely reflect the president's own thinking on monetary policy. He added that the forecast “says a lot about the president’s plans for the Fed,” which is on the verge of a significant power shift.
According to Schiff, Eric’s comments also reflect the White House’s knowledge of “true underlying weakness of the U.S. economy, and why the biggest risk is soaring inflation.”
Eric Forecasts ‘Quantitative Easing’
Last week, Eric forecasted a rally in Bitcoin to $1 million, driven by “quantitative easing,” expanding global money supply, and Q4’s historical strength in cryptocurrencies, during an interview with the New York Post’s NYNEXT podcast.
Eric had made similar comments a week ago, on the Fed’s rate cuts, saying, “I just think you would potentially see this thing skyrocket,” going against prediction market odds, which predicted a high likelihood of the coin staying below $107,000 througout this month.
Neither the Trump Organization, the White House, nor the Federal Reserve immediately responded to Benzinga’s requests for a comment on this matter. This story will be updated as soon as we hear back.
Photo courtesy: Maxim Elramsisy / Shutterstock
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