🇺🇸 Peter Schiff expects recession, rate cuts and QE to trigger an inflationary wave

Rising oil prices in themselves do not necessarily directly increase inflation. More expensive oil means Americans will spend more on energy and less on other goods and services. Reduced consumption can lead to an economic downturn, which in turn will increase the budget deficit, lead to rate cuts and quantitative easing. This is what can become a factor in higher inflation.