Craig Hemke, Founder of TF Metals Report, joins us to recap a number of economic data points that have been moving markets, and the what macro factors may move the needle moving forward. We discuss the startling reality that the 2nd, 3rd, and 4th largest US banking collapses ever have just happened in the last 2 months. Additionally, Craig noted that the recent plunge in regional banks led by the collapse of PacWest Bank over the last 2 days started just 30 minutes after Fed Chair Jerome Powell, tried to reassure markets that we could draw a line under the banking concerns with the takeover of First Republic Bank by JP Morgan.
Clearly there are still economic challenges emerging from the aggressive rate hiking and monetary tightening cycle the central bank has been engaged in since last year. We explore what kind of reactions we may see in the general equities, in gold, and silver, and the PM mining stocks should the Fed have to pivot to cuts later this year, versus what could happen if they paused for the balance of the year. With no FOMC meeting for another 6 weeks, markets will be looking to economic data flow for signals, and with tomorrows jobs numbers being a key report.
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