reducing interest rates at the wrong time; Did the Federal Reserve make a mistake?

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Bitcoin (BTC) critic Peter Schiff has warned that the recent interest rate cut by the Federal Reserve makes no economic sense even as inflation continues to rise. According to Schiff, the Federal Reserve has practically abandoned the fight against inflation and has changed its priority to supporting the financial markets and preventing their collapse. According to him, the Fed is now sacrificing the real economy to save Wall Street.

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Schiff argues that when interest rates fall but prices rise, the value of cash quickly declines and investors are forced to flock to riskier assets such as stocks, commodities and even cryptocurrencies. He calls this policy cheap money at the wrong time, which may make the markets green in the short term, but in the long run it makes inflation impossible to control and the economy faces more complex problems.