Meta Platforms Inc.META
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Spatial Computing / AR/VR
Meta Platforms Inc.Meta Platforms Inc.Economist Peter Schiff criticized Federal Reserve Chair Kevin Warsh for holding rates steady, arguing that Warsh chose inflation despite his hawkish rhetoric. Three FOMC members dissented, voting for a quarter-point hike, but Warsh was not among them. Schiff contended that Warsh cannot claim credit for the bond market's rate increase, as the 30-year Treasury yield broke above 5.20% during the press conference and touched 5.239% Thursday, its highest since 2007. Gold rose about $40 to near $4,070 while stocks and bonds sold off, a move Schiff said reflects investors losing faith in the Fed's will to fight inflation.
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