Peter Schiff is making his standard macro call — Fed too loose on inflation, too tight on growth, and headed for a policy mistake. The Fed just held rates at 3.5-3.75% with the highest dissent since 1992, so there's real disagreement inside the FOMC, but Schiff's specific predictions about coming rate cuts and QE are speculation. His framing of oil prices as causing recession 'not inflation' is misleading — oil shocks historically cause stagflation, meaning both. Worth knowing: Schiff has predicted imminent dollar collapse and runaway inflation for over a decade, so his track record on timing is poor even when directional calls land.