Fed's Actions Contradict Inflation-Fighting Rhetoric, Says Peter Schiff

Veteran economist Peter Schiff criticized Federal Reserve Chair Kevin Warsh for talking about fighting inflation while the central bank's actions create it.

The Fed's balance sheet expanded by more than $11 billion last week, reaching a total of $6.76 trillion as of August 12.

Schiff stated that if the Fed was serious about hitting its 2% inflation target, it would be shrinking its balance sheet rather than growing it.