Greetings, Investors! As the week ended, I joined two different friends on their platforms to go over a variety of this week's breaking news...look ahead to Fed policy/The Warsh nomination to the Fed...explain the implications (or lack thereof) of yesterday's SCOTUS decison on President Trump's tariffs...and take a quick lap around uranium, gold, copper, "Old Energy" and more.
RIGHT HERE is my latest discussion with Alex Horat, an up and coming economic/investment podcast and his The Free American Press.
Alex reached out following my visit at the beginning of the week with Scott Melbye you've already seen on the uranium/nuclear energy space; and I expanded on those thoughts, in addition to giving my current assessments also on precious metals, oil/gas, coal, copper and more.
We fit in a LOT of "meat" in a short time! Alex is distinguishing himself as a good, focused and efficient interviewer.
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While Alex and I necessarily also discussed the broader "macro" situation, a lot of that was focused on by my friend and colleague Mike Fox in a special edition of his The Prospector Podcast.
You can LISTEN IN HERE to that likewise PACKED (even though a bit shorter than our typical one!) discussion.
Mike and I always get together as you know following Fed meetings; and this time between F.O.M.C. gatherings he wanted to focus chiefly on the nomination of Kevin Warsh to succeed Jerome ("Too Late") Powell as Fed Chairman.
This follows as well my own Your Money Today podcast right after the president's nomination, which you can LISTEN TO HERE if you missed it previously.
As it turned out, we ended up with a "Two-fer" thanks to the Supreme Court's decision on Trump's tariffs game plan dropping at last right before we recorded.
As we all pretty much expected, the president lost that verdict, even though he quickly came out and -- among other things -- announced "global" 10% tariffs anyway under separate authority (challenges to those are already being crafted) and otherwise castigated SCOTUS for not seeing things his way.
For the moment, the decision / president's antics and "Plan B's" to follow are roughly neutral for the markets...and as I opine with Mike, the political and foreign policy issues are potentially greater.
(NOTE: On that--and despite an initial knee-jerk reaction favoring retailers, for example, most likely to benefit from getting refunds of the $130 billion or so in tariffs collected under a policy now deemed illegal--Trump and Treasury Sec. Bessent made VERY clear before day's end yesterday that anyone who wants those refunds will have to sue the government...and wait years. Thus, no near-term negative budgetary implications on that.)
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We next moved on to Warsh and the Fed: a discussion you DON'T want to miss!
Along the way of taking a little (only slightly early) victory lap over my Fed rate hike / BINGO card prediction of not long ago, I dove into the main reason the uber-Establishment Warsh is being tapped.
(SPOILER ALERT: The last time there was full-on Yield Curve Control--YCC--in the Treasury market was back in the 1950's when there was a different relationship between the Fed and the Treasury/Administration. Warsh wants to re-establish that relationship.)
This is going to be FUN to watch!!
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Finally -- and not to be too "conspiracy minded" -- ponder the example I share with both Alex and Mike of the difference between Sept. 10, 2001 and Sept. 11, 2001. It unfortunately may soon be informing our present circumstances and economic/market debates and game plans.
All the best,
Chris Temple
Editor/Publisher
From the desk of Chris Temple -- Saturday, Feb. 21, 2026
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