Economist Peter Schiff on Tuesday warned about a potential recession that is looming ahead, accompanied by a rise in inflation – a lethal combo that can put pressure on the economy. What Happened: Economic reports released on Tuesday showed that the U.S. manufacturing activity contracted more than expected in August and construction activity for July fell more than expected. Citing the data, Schiff said, “It’s becoming clear the #economy is entering a #recession just as #inflation is poised to turn higher.” The stock market plunged following the release of the sore data, with the decline led b…
