There&#x27;s a new boss over at the Federal Reserve.<br>Is he going to be any different than the old boss?<br>Midweek Memo host Mike Maharrey delved into that question this week. He notes that Warsh certainly sounds different. But he&#x27;s stepping into the same situation that Jerome Powell left. Mike explains why that will likely limit Warsh&#x27;s options, meaning the old new boss may end up acting just like the old boss when it&#x27;s all said and done.<br>Mike also highlights the ever-growing Debt Black hole by breaking down the May federal budget deficit numbers.

Warsh Takes the Reins at the Fed: What's Next?

Money Metals' Weekly Market Wrap Podcast

# Full Transcript

**Podcast:** Money Metals' Weekly Market Wrap Podcast

## Transcript

Welcome to the Money Metals Midweek Memo. News and commentary relating the sound money, the precious metals markets, and the economy. I'm your host, Mike Meharry. Thanks for tuning in. So there's a new boss over at the Fed. There's no doubt that Kevin Warsh is going to be a different kind of Fed chair. He's definitely not Jerome Powell.

And he's already started putting his stamp on the central bank with his first FOMC meeting last week. But folks would do well to remember that the new boss is running the same organization and facing the exact same problems as the old boss. And no matter how different he might be, no matter how differently he may want to run things, that reality is going to limit what he can actually do.

And that means that things may not look a whole lot different, even though it seems like people are really anticipating a much more hawkish Fed that's going to slam down inflation and everything's going to be hunky-dory. So, you know, that said, they're definitely going to sound different. Things are going to look and sound differently over at the Federal Reserve.

And it's important to cut through the noise if we're going to get a clear understanding of what monetary policy will likely look like going forward. And of course, if you are a precious metals investor, this is one of the biggest factors that's going to impact the price of gold and silver. It's the anticipation of what the Fed is going to do with monetary policy. And right now, I think the anticipation and the narrative is out of step with reality.

So, we're going to talk about that today. But first, again, as I always say every week, thank you so much for listening to the show. I really do appreciate it. I know there are all kinds of things out there vying for your attention. So, it means a lot to me that you spend a little bit of time each week with me. If you would do me a favor, please share these episodes on your own social media channels. That will help us to grow the show. Also, if you would, write us a little review. You know, give us those thumbs up. All of those things.

Tweak the algorithms and we'll show the show to more people and help us to grow. If you would do that, I would greatly appreciate it. So, before we get into the news of the week, I did want to talk a little bit about where I was last week. You probably noticed if you're a regular listener that I did not record a show. And that is because I was in Mexico with a group from my church.

And we actually built a house for a couple who basically a lot of folks in this area of Mexico are able to scrape up enough money to buy land, but then they struggle to put any kind of livable structure on it. The average salary there is around $250 or $300 a week. So, you can imagine the level of poverty. And so, we were able to build a house basically in four work days, which was pretty amazing.

I will say this. At almost...

Warsh Takes the Reins at the Fed: What's Next?

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Warsh Takes the Reins at the Fed: What's Next?

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.