Part 4/9:
Schiff predicts that the current economic path—characterized by tariffs—is likely to result in a significant recession. The combination of reduced imports and the inability of domestic industries to ramp up production, coupled with increasing inflation, points toward a grim economic forecast. He foresees a scenario where the inflation borne from tariffs and the Federal Reserve's monetary policy will inevitably redirect inflation back to consumers in the form of higher prices for goods.