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In the new economic age ushered in by Covid-19, central banks around the world have vastly expanded monetary activism far beyond anything seen before. The U.S. Federal Reserve has expanded their balance sheet by nearly $4 trillion in just a few months, and as far as anyone can tell, there is no end in sight. In the words of Fed chairman Jerome Powell, the Fed “isn’t even thinking about when it will think about raising interest rates above zero.” But central bank activism may soon be moving in very new directions. To deal with tens of millions of newly unemployed workers and the reality that entire commercial sectors are no longer viable, the banks are currently looking at ways to put newly created money directly into the hands of consumers. Against a backdrop of a weak economy, this a clear recipe for stagflation. Peter Schiff will explain how investors can prepare for this new normal.