Julia Coronado

Yes, a very strong number for January.

We have to look at it with some caution.

They warned us that winter weather reduced the response rate to the survey.

And we have sort of a wild jump in health care hiring more than one hundred and thirty thousand jobs worldwide.

That seems a little suspect, but the unemployment rate tells us that it is still a decent job market.

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.