The Fed Hikes Rates to Highest Level Since 2007; That’s a Big Problem

by Peter Schiff, Schiff Gold: As expected, the Federal Reserve raised interest rates by 50 basis points at the December Federal Open Market Committee (FOMC) meeting. That pushed the federal funds rate to 4.5%. The last time rates were this high was in 2007. That’s bad news for an economy addicted to easy money. While […]