The Market Is Going Lower Until The Fed Comes Clean

First of all, we are nowhere near capitulation. I think we are still in denial. Remember, the entire bull market was about the Federal Reserve and the Fed finally pricked its own bubble in December. And there is a lot more air that is going to come out. The market is going much, much lower until the Federal Reserve comes clean and admits that it is not raising interest rates any more. I think they will have to launch QE4 to stop this market and that is exactly what they are going to do.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.