Peter Schiff’s Forecast: US Dollar is Headed for One of its Worst Years

Economist Peter Schiff has predicted that the US dollar is headed for one of its worst years ever, with inflation expected to worsen in the coming year. He also voiced his views on the stock market and what the worst performing stocks will look like in 2023.

Peter Schiff’s Predictions for 2023

Economist and gold fanatic Peter Schiff recently shared his economic forecasts for the US, the dollar, and the stock market in a series of tweets. In his statement, he stated that the US dollar index ended the year at a six-month low, down 10% from its November high.

“This dollar is going to experience one of its worst years ever and the weakness is likely to continue into 2023. Inflation is a problem and it’s only going to get worse,” Schiff warned.

He went on to disagree with Wharton University professor of finance Jeremy Siegel’s view on inflation. “Jeremy Siegel is wrong. He thinks that falling house prices mean the threat of inflation is over. That’s falling asset prices. Consumer prices will continue to rise, including those associated with home ownership such as rent, mortgage rates, insurance, taxes, utilities, and maintenance,” Schiff argued.

Moving on to the stock market, Schiff predicted that the worst performing segments of the stock exchange in 2022 will most likely be the same as those in 2023.

Schiff has been a vocal critic of the US economy and the decline of the dollar. In October, he warned of the US’s increasing national debt, which he believes is impossible to pay. “We are going into default. We have a lot more debt now than we did in 2008…so this is going to be a much bigger crisis when the defaults start,” he stated.

The economist also believes that the US Federal Reserve’s recent actions could lead to market crashes, a severe recession, and a massive financial crisis.

What do you think of Peter Schiff’s predictions? Please let us know your thoughts in the comments section.