In other words, he’s a braggart, a bluffer, a phony and probably nowhere near the real deal.
All right. No more ado. Here are media examples of people who are or are accused of being “all hat and no cattle”:
1. Last week’s inflation data was seen as a positive development, triggering speculation that the Fed may hike rates again as higher inflation is generally seen as a sign of economic growth.
On February 19, data from the Labor Department showed that the core consumer price index (CPI) rose in January at a 2.2 percent annualized rate, the highest in more than 4 years, well past the 2.0 percent benchmark set by the Fed. It was received as welcome news.
But, in reality, it may be the other way around. Peter Schiff in a commentary with Euro Pacific Capital said it is the Fed’s “worst possible nightmare.”
Schiff said, “It will expose the error of their eight-year stimulus experiment and the Fed’s impotence in restoring health to an economy that it has turned into a walking zombie addicted to cheap money.”
...
According to Schiff, the real nightmare for the Fed is not the extra body blow higher prices will deliver to already bruised consumer, but the knockout punch that will be delivered to its own credibility. The markets believe the Fed has a duel mandate, to promote employment and to maintain price stability.
Schiff added that Fed is currently operating like it has just a single unspoken mandate: to continue to shower markets with easy money until asset prices and incomes rise high enough.
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