#425 Axel Merk: I Sat Down With Kevin Warsh — What the Fed Is Really Up To and Where Gold Goes Next

Podcast: The Julia La Roche Show · Julia La Roche

Opublikowano: 2026-10-27

Axel Merk, founder and CIO of Merk Investments, which manages about $2.5 billion, joins Julia ahead of this week’s FOMC meeting. He explains why Fed Chair Kevin Warsh’s goal of “removing a dose of accommodation” means a tightening bias without a sledgehammer. He also explains why gold has fallen during the Iran war: markets treat it as a temporary supply shock that pushes real rates higher. And he describes the decoupling he’s watching for that could free gold from the conflict. Merk, who met with Warsh at the Fed in August, says Warsh has been consistent and is trying...