Julia Coronado

It's not a huge surprise, but it's a confirmation that the hiring rate in the U.S.

has really stepped down pretty dramatically.

Well, the Fed is going to take its cue from the unemployment rate.

The lower hiring rate reflects the immigration policy that has really restricted the growth of the labor market, which really had driven strong gains over the prior years.

The unemployment rate at 4.3%, that's a decent unemployment rate.

That tells the Fed that the labor market isn't falling apart.

They don't need to be in a rush to lower interest rates.

My pleasure.

you just put your finger on it.

Once you have a boom and speculators pile into something, then inevitably there's going to be a moment where some of the speculators get out of the market and you can have pretty significant corrections.

So this has been a market on a tear, all the precious metals.

And yeah, it went through a severe correction, but it's still up quite a bit over the last few months.

That's right.

So when Kevin Warsh was a governor at the Fed years back,

He was known to be a bit more hawkish.

He did not like the Fed using its balance sheet.

He didn't like lower rates or easy money.

And of course, that's exactly what he's promising to fight for now, or he wouldn't have gotten the job from President Trump.

So there's a bit of confusion.

But the market was, you know, amongst the four finalists, he was maybe the least dovish or the least easy money leaning.