Veteran gold bull Peter Schiff did not rule out a US stock market crash before the 2026 midterm elections, arguing that rising inflation, higher borrowing costs, mounting pressure on AI spending, elevated stock valuations, a weakening labour market, and rising Treasury yields could push the economy towards recession.
Schiff is of the view that a potential downturn could benefit gold and mining stocks, while warning that inflation could reach 7% or higher in 2027 and that housing and banking risks could trigger a wider financial crisis.
