Peter Schiff: Powell has no reason not to deliver on a September rate cut

As market expectations grow for a Fed rate cut next month, the Fed is likely to make good on that expectation, with Wall Street guru Peter Schiff saying he will see a rate cut in September, mainly because the market is now counting on a September cut. That's why U.S. stocks rallied after Monday's sell-off. Now that the market has factored in the possibility of a September rate cut, there is no reason for Powell not to deliver, he always meets the market's expectations and he doesn't want to create surprises in the market.