PANews reported on November 10 that economist and gold advocate Peter Schiff severely criticized Trump's economic approach on the social media platform X this week, emphasizing the risks he sees in current financial practices and some unfulfilled promises. Schiff believes that optimism about the "Trump-induced economic boom" is misplaced, and he pointed out that potential economic fragility could undermine this positive outlook. According to him, tax cuts are likely to continue, but corresponding spending cuts will almost certainly not.
Schiff further warned that uncontrolled deficits could prompt the Federal Reserve to re-implement quantitative easing, leading to higher inflation. For those worried about inflationary pressures, Schiff suggested that "Trump's best trade now is to buy gold and gold mining stocks on the dip," arguing that gold is a stable asset during times of economic uncertainty.
