The US Federal Reserve has kept its benchmark interest rate on hold, as expected. But what took many by surprise was the Fed chair's sharp U-turn on future rate rises. After putting traders on notice just six weeks ago, Jerome Powell now seems to have put rate increases on the back-burner for the time being. Paolo Montecillo finds out why. For more on the Fed's dovish turn, we spoke to Peter Schiff, CEO and chief global strategist of retail brokerage firm, Euro Pacific Capital. He spoke to us from Dorado in Puerto Rico.

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