Schiff criticizes Trump’s rate cut idea, says transition to manufacturing economy requires higher rates

Peter Schiff, an economist, disagrees with former President Trump’s suggestion to cut interest rates. He argues that higher rates are essential to shift the U.S. Economy from imports to manufacturing.

Schiff highlights the troubling trend of capital moving from U.S. Stocks to international markets, suggesting greater market instability, with the Dow facing one of its worst months since the Great Depression.