
Jun 19, 2026 · 47 min · 11 segments
In this Exploring Mining podcast episode, Cali Van Zant and Chris Temple break down the Federal Reserve’s new strategy under Chairman Kevin Warsh, including his Volcker-style two-act plan of tighter…
Chris TempleGuest
Cali Van ZantHost
The thing to be concerned about with Warsh is that, you know, he's absolutely right that there's got to be some discipline enforced again and that they got to get inflation back under control.

And everything, I mean, there's a limit to how much he can tighten before he breaks something.

You've got a lot of garbage underneath the surface that's kind of been masked by these record highs in the stock market and record new corporate issuance and stuff like that.

You know, with Warsh, does he listen to the bond vigilantes or the credit crisis, which does he follow? He's going to start out listening to the bond vigilantes.

My key takeaways were no forward guidance, which I don't know how people are going to feel about that.

And the task force, I mean, that's a lofty goal for the end of the year so far, what I think.

I mean, look, the way he talks and acts, if it was all up to him and he didn't have to satisfy anybody else, he'd have raised Raid's 50 basis points yesterday.

you strategize when you see so much volatility and bumps in the road ahead you know especially on the commodity side as we usually talk about that quite a bit here like where are you looking at do you have a certain number that your bottom is that you feel comfortable buying back in again or

i'll throw a number out as far as gold i mean my when gold peaked i had two downside targets 4 400 and 3500.

We already broke $4,400 and I told people a week ago that if we rallied back up to that $4,400 to short it some more.

Because I do think that with Warsh's game plan, gold will go down to $3,500, which is a big breakout level of last year.

If it does that, you're asking about price targets, it's probably going to be back up to truck time again.

Because that'll mean that a lot of the stocks are not down 40%, they're down 60% or 70%.
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