Peter Schiff: If the Fed does not urgently cut interest rates and announce a massive quantitative easing program, it could trigger a stock market crash similar to 1987

Odaily News Economist Peter Schiff warned that the US Treasury yields are rising rapidly, with the 10-year yield reaching 4.5% and the 30-year yield rising to 5%. He said that if the Federal Reserve does not urgently cut interest rates and launch a large-scale quantitative easing program tomorrow morning, the stock market may experience a crash similar to that of 1987.