Founder Merk Investments. USD ~2.5bn in precious metals. Weekend rancher. tweets ≠ advice
USA
Joined June 2012
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Axel Merk retweeted
Summaries of the key takeaways from the interviews @AdamTaggart conducts each week (for premium subscribers) ▶️ adamtaggart.substack.com
Full episode of this interview with @AxelMerk 🔽
nitter.cf/adamtaggart/status/211…
FOMC Live Reaction: Is The Fed Making A Policy Error? | Axel Merk nitter.cf/i/broadcasts/1DGleVADk…
Axel Merk retweeted
BREAKING: As expected, the Federal Reserve didn't change its policy rate
There were 2 dissents this time: Cook & Hammack who both favored a .25% hike
@axelmerk & I will be breaking all the implications down for you at 5pmET/2pmPT today + take your live Q&A
Axel Merk retweeted
Median sales price of new homes fell 5.8% to $399,700 in August from a year earlier, largest decline since July 2025, and likely driven by builders offering incentives to attract buyers
Axel Merk retweeted
Canadian Prairies: huge price drops coming to AB, MB, SK for diesel as $XOM refinery in Joliet, IL restarts, diesel prices could drop 15-20c/L over the next two days with gasoline easing 3-8c/L in the Prairies.
Axel Merk retweeted
The Fed did not make a policy error yesterday by hiking rates.
They ended a two-year policy mistake yesterday.
Explained below.
1/5
I have the opposite conclusion.
Fed cutting has been a two-year policy error that (hopefully) ends tomorrow with a hike (91% prob now).
This chart shows that since the Fed started cutting rates on Sept. 18, 2024, the 10-year yield is UP 1.30%
@AnnaEconomist @fundstrat
Axel Merk retweeted
Warsh’s not hiking in response to energy prices. He said if not enough progress is made to get inflation to 2%, higher rates are in order. He added recent data didn’t convince him. The market has reacted to the additional non-convincing data. It’s not complicated.
Axel Merk retweeted
If you want evidence that capitalism is a force for good, just visit a grocery store.
My ode to the humble American supermarket, for @WSJFreeEx
Axel Merk retweeted
Bessent's teacher Druckenmiller: "The long-term Treasury yield is the most important price in the world. It is also the only fiscal disciplinarian the U.S. has left..Every basis point of artificial yield suppression is a subsidy to procrastination." wsj.com/opinion/let-the-bond…
Axel Merk retweeted
A brilliant response to a not very well thought out Article from Bloomberg.
Stop Complaining
Wall St Keynesian establishment is in full panic mode, and for all the wrong reasons.
The moment markets begin functioning like markets again, the usual chorus returns, complaining about Kevin Warsh, fretting over higher rates, and mourning the end of central bank coddling. Their real grievance is not uncertainty. It is discipline. They want to be spoon fed.
For too long, the post-2008 consensus confused cheap money with growth and Fed intervention with wisdom. That game is over. What we are seeing now is an economy escaping secular stagnation and the liquidity trap, with capital finally being priced by risk rather than subsidized by policy.
Treasury Secretary Scott Bessent has been making this point for some time. The private sector, not technocrats, should set interest rates and allocate resources. Stop complaining.
The age of monetary paternalism produced distortions, dependency, and complacency. A more normal economy will offend the people who benefited from the abnormal one.
That is not a bug. It is the point.
Axel Merk retweeted
Disagree. He nailed it. Steeper curve was the goal, implies growth. Let the market adjudicate the correct yield and don’t micromanage - in other words keep powder dry and credibility.
Axel Merk retweeted
My FOMC Preview: the parsimony pursued by Kevin Warsh is a feature & not a bug of his proposed regime change.
Source: The Real Economy Blog share.google/GAJNvcOWDcOgvay…
Axel Merk retweeted
Everybody favors that. We also favor high fiber, low fat, chocolate chip cookies that cure cancer.
Axel Merk retweeted
We can finally say AI isn't killing jobs.
A new paper from me, @tryramp, and @RevelioLabs uses firm-level spend and workforce data across 21K U.S. businesses to measure AI's impact on jobs.
Firms that adopt AI heavily grow headcount 10% over two years following adoption. Low adopters see no statistically significant change.
Axel Merk retweeted
Supreme Court rules 5-4 against Trump on Lisa Cook
"At minimum, Cook was entitled to some explanation of the evidence at issue, some avenue for a response, and a deadline by which a response would be due." supremecourt.gov/opinions/25…
Axel Merk retweeted
The World Cup is at our shores, and all these people are doing us a great service. They are reminding Americans that this place is kind of awesome.
Axel Merk retweeted
35 years ago, Poland and Iran had similar standards of living.
Now, Poland is about to pass Japan in GDP per capita.
How do we create more Polands?
Axel Merk retweeted
Kevin Warsh made his first public appearance as the. new Chair of the Federal Reserve yesterday
How did he do?
He seemed sufficiently hawkish to keep bond investors happy
What should we expect from his regime at the Fed?
@axelmerk shares his outlook below:
Axel Merk retweeted
The new Federal Reserve Chair, Kevin Warsh, adopted a highly welcome change during his opening remarks at the press conference following today's policy statement.
Underpinning his emphasis on accountability, his delivery was noticeably more open, engaging, concise, and honest.
In addition to confirming that he did not submit "dots" given his well-founded (and correct) discomfort with the Summary of Economic Projections (SEP), he announced the creation of five task forces to take a fresh look at areas I have long argued are in deep need of reform:
Communication
Balance sheet management
Data sources and uses
Productivity and jobs in a transforming economy
The inflation framework
Bottom line: A much-needed, reform-oriented breath of fresh air.
#economy #markets #federalreserve #kevinwarsh @federalreserve
Axel Merk retweeted
"Ultimately, what gold is competing against is the purchasing power of the currency in the long run." -Axel Merk
@AxelMerk
@merkinvestments
@MoneyMetals
ALT "Ultimately what gold is competing against is the purchasing power of the currency in the long run." Axel Merk, Merk Investments, Money Metals Exchange.