SPECIAL REPORT: Under-Fire Fed Keeps Interest Rates Flat | Axel Merk

Video Description

WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com The Federal Reserve Open Market Committee just released the outcome of its meeting this week. As expected, the Fed kept its policy rate unchanged, at 3.5-3.75% (with two dissents). It also announced that it’s starting to breathe a little easier about both inflation and the jobs market. Fed-watcher Axel Merk just joined our livestream to deliver his expert reaction to the Fed’s latest guidance as well as the epic tear gold is going on this week. #federalreserve #inflation #interestrates 0:00 - Fed Meeting Recap: Rates Held Steady 2:15 - Dissents from Miran & Waller 2:48 - Market Expectations: Only 2 Rate Cuts Left in 2026 3:02 - Upgraded Economic Outlook & Moderated Inflation Risks 4:02 - Powell Press Conference: No Major Market Reaction 4:41 - Powell Avoiding Political Questions 5:51 - Balance of Risks & No Forward Guidance 6:31 - Waller Dissent & Integrity 7:50 - Journalists' Tone & Political Pushback 8:58 - Dollar & Foreign Demand for US Debt 9:33 - Tariffs Impacting Currency Flows 10:33 - Excess Liquidity & Safe Asset Demand 11:41 - Concern Over Foreign Buying Trends 12:45 - Gold Up $200+ & Market Normalization 13:33 - Precious Metals Markets Small & Allocation Shifts 15:04 - Administration Pushing Growth & Deficits 16:37 - Bond Vigilantes & Japan Comparison 18:28 - Loss of Confidence in Fiscal Sustainability 19:02 - Central Banks vs. Fiscal Policy 20:16 - Gold as Canary in the Coal Mine 21:06 - Equities Holding Up Amid Metals Rally 22:46 - Central Bank Buying & Asian Demand 23:47 - Western Buyers Shifting from Bonds 24:48 - Retail vs. Institutional Flows 25:33 - Central Banks Less Price-Sensitive 26:19 - Coin Dealers: Sellers Over Buyers 27:23 - No Bubble Signs Yet 28:50 - China Speculation & Volatility Risks 29:38 - Blowoff Top vs. "Different This Time" 30:57 - No Volcker-Style Tightening Ahead 31:49 - Institutional Interest in Mining Sector 32:58 - Massive Debt in Peacetime 34:06 - New Global Order & Friction 35:05 - Fed Independence & Supreme Court Case 38:54 - Political Pressure on Powell 39:34 - Polymarket Odds for Next Fed Chair 40:00 - Mission Creep & Fiscal Policy 41:37 - Risks of Losing Fed Independence 42:09 - Bessent Critique of Fed 43:29 - Monetary vs. Administrative Functions 44:43 - Pressure Tactics for Lower Rates 45:02 - Fed Chair Candidates: Walsh Preference 46:56 - Rick Reer Concerns & Balance Sheet Use 47:50 - Chris Waller Strengths 49:05 - Correlation: Reer Odds & Gold Surge 50:03 - BlackRock Ties & Manipulation Fears 51:32 - Micromanaging Economy Risks 52:32 - Back to Basics Under Walsh 53:02 - Why Miners Lag Gold/Silver 54:14 - Mining Fund Growth & Performance 55:41 - Energy Costs & Margins 56:45 - Majors vs. Juniors Flow 58:06 - Still Bullish on Miners 59:13 - Holding Positions & Risk Management 1:00:42 - Red Flags: Retail FOMO 1:02:01 - Coin Dealers Busy with Sellers 1:03:08 - Strong Hands Accumulating 1:04:17 - Miners vs. Physical Metals Upside 1:05:09 - Limited Good Silver Miners 1:05:52 - Closing & Where to Follow Axel 1:06:46 - Parting Advice: Focus on Risk 1:07:27 - mercinvestments.com & Substack _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter. We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such. We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance. IMPORTANT NOTE: There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance. Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC. Copyright © 2026 Thoughtful Money LLC. All rights reserved.