Greetings, Investors!
While those not dialed into the markets are more preoccupied with turning that famous rodent in Punxsutawney, Pennsylvania into groundhog crouqets this morning, others of us are looking to divine what a Kevin Warsh-led Fed will mean for our portfolios and the broader economy.
RIGHT HERE (or by clicking the above graphic) you can listen to my new podcast episode from late last night.
Warsh is a banker right out of D.C. Swamp "central casting," BUT one whose legitimate views on how the Fed needs to be "reformed" will play fairly well with both sides of the aisle in the Senate. He's especially of late been tossing out a lot of populist-sounding rhetoric as to how to institutionally change the way the Fed operates to benefit Main Street--as opposed to Wall Street--for a change (sound familiar?)
Some of what Warsh proposes makes sense, within the otherwise flatally flawed context of how our fractional reserve system works to begin with. The coming debate in front of the Senate Finance Committee on his nomination could be not only entertaining but actually substantive.
There IS one policy proposal Warsh has articulated, though, that could cause fireworks and some major pushback, especially on the part of those senators worried the otherwise Establishment Warsh really IS a Trojan Horse to give the president more direct control over Fed policy.
I explain that; and why it's a big (though presently not discussed) risk to a nomination which otherwise shouldn't be in any fatal trouble.
Finally, I discuss the market behavior of late last week...including the one factor that turned the metals' overdue correction into a rout...and what we need to understand now going forward.
Of course, our paid Members will be receiving augmented guidance on our portfolio mix as warranted.
All the best,
Chris Temple
Editor/Publisher
From the desk of Chris Temple -- Monday, Feb. 2, 2026
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