The economist predicted the imminent collapse of the "house of cards" of the Fed.

After raising interest rates by 25 basis points at a March 22 meeting, Fed chief Jerome Powell said the US banking system is strong and resilient despite the collapse of three US banks and a government guarantee on customer deposits. However, economist Peter Schiff believes that this is just a "house of cards" that can collapse at any moment, and that the root of the evil lies in the Fed's monetary policy. He explains that the Fed caused a "bubble" that culminated in the 2008 financial crisis, and instead of taking action, more money was pumped into the market, resulting in an even bigger "bubble." Schiff warns of a possible banking crisis and insists that the US authorities must recognize its existence and take steps to prevent its occurrence.