Welcome back to Market on Close. I'm Sam Bartis on the floor of the New York Stock Exchange. Joining us now is Derek McFersonen, CEO of West Point Gold.Hello to you, Derek. Thanks so much for joining us today. Look, the last time we had you on, it looked like gold had sort of, I mean, gone off the radar a little bit just because we'd seen those record highs and it pulled back a bit, but we are creeping back up towards those records again.Uh, just talk us through the price action and what's driving that righ ...

Whether you love or hate how the second Donald Trump Administration has handled the economy, it has certainly made changes. And it shows no signs of slowing that pace of change. Trending Now: When Trump Says He Has ‘Solved’ Inflation, This Is What It Means for You Find Out: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too So what changes do economists say the president should enact in 2026? Plus, take a look at how these household bills have changed since Trump took office ...

Core Insights - The article discusses a shift in perspective regarding U.S. government deficit spending and its implications for Treasury bond maturities [1] Group 1: Economic Analysis - The U.S. government is experiencing continued high deficit spending, which is raising concerns among analysts [1] - There is a compaction of U.S. Treasury bond maturities occurring over the next three years, which may impact investment strategies [1] Group 2: Investment Strategies - The analysis emphasizes the importance of ETF asset allocation, growth stocks, dividend stocks, REITs, and option selling for income as potential investment strategies [1]

whats bbbArashiStormRider | 6669.thesagadao.sol (@Greed2Fear):@blknoiz06 Fundamentals. People also forget the BBB is gonna print hard. Adding 5-7 trillion via deficit spending. Awful for our country, great for risk assets. ...

Government Debt & Deficit Spending - US national debt has surpassed $38 trillion [1] - Republicans are proposing to add another $2 trillion in deficit spending [1] - Democrats are proposing to add another $3 trillion in deficit spending [1] Budget & Fiscal Policy - There is no progress towards balancing the budget [1]

Core Insights - U.S. inflation has consistently remained above the 2% target for several years and has recently diverged further from this target [1] - The Federal Reserve is planning to implement monetary policy easing through interest rate cuts despite the ongoing inflation [1] Inflation Trends - Inflation in the U.S. has been above the 2% target for years, indicating persistent inflationary pressures [1] - In the last three months, inflation has moved even further away from the target, suggesting a worsening situation [1] Federal Reserve Actions - The Federal Reserve is considering easing monetary policy, which may include rate cuts, in response to the current economic conditions [1] - This approach indicates a shift in strategy despite the high inflation rates, reflecting a focus on stimulating economic growth [1]

US Fiscal Policy & Budget - CBO projects President's tax and spending law will add $34 trillion to US deficits over the next decade, reflecting a $45 trillion drop in revenues and $11 trillion decline in spending through 2034 [6] - Nearly two-thirds of Americans disapprove of the President's handling of inflation, with half saying Trump's policies have left them financially worse off [7] - White House and Congressional Republicans disagree with CBO's estimates, undermining its role as the gold standard for congressional bill estimates [9] - The White House claims the President is fiscally responsible and that the tax cut is the largest for working families and middle-class Americans [10] - CBO's analysis calculates the new legislation would add $34 trillion to the deficit over the next decade [65] - Senate Republicans requested a CBO score including dynamic scoring and the current policy baseline, which would reduce deficits by $366 billion over a decade [73] - The bill will dramatically increase the deficit, impacting future generations [75] Federal Reserve & Monetary Policy - A Republican member of Congress made a criminal referral against Fed Chair Jay Powell [4] - The White House reiterates it has no plans to fire Jerome Powell [4][17] - The Federal Reserve, under the Federal Reserve Act, is responsible for acquiring and maintaining its own buildings, paying for them out of its own revenues [20] - The President is trying to put pressure on Jay Powell, but firing him doesn't make sense as Powell would likely go to court [21][22] - The President's actions may set off market reactions he won't like [23] - The President is playing with fire and risking inflationary expectations by compromising the Federal Reserve's independence [28] - The right approach for the Fed is to wait and see, as the trade war is creating uncertainty [29][31] Trade & Tariffs - EU officials are set to meet to discuss how to respond to a possible no-deal trade scenario with the US [5] - The administration teases the potential for more trade letters as the August 2 deadline approaches [5][13] - Many trade deals have been unbalanced, with countries agreeing to pay no tariffs or, in the case of China, 10% tariffs, while the US puts much higher tariffs on them [12] - The EU has announced plans to retaliate if tariffs go into effect [13] - The trade war is making it harder for the President to lower prices [31] - Tariffs are beginning to show up in the economy [30] - Tariffs are accomplishing the opposite of what they want to accomplish, hurting domestic sectors and making it more expensive to produce [34][35] US Politics & Redistricting - Texas lawmakers are poised to redraw the state's congressional maps in a bid to create five new winnable seats for the Republican Party next year [5] - Republicans are planning to redraw congressional maps in Texas, hoping to secure more seats in the House during the midterms [42] - President Trump endorsed the move as a step to bolster his House majority by ensuring more Republican seats [43] - There is no technical ban on mid-decade redistricting in Texas [47] - Republicans believe they can pick up as many as five seats in Texas [48] - Democrats may consider congressional redistricting if Texas goes through with its plan [85]

Inflation and Tariffs - The White House Council of Economic Advisers found no evidence that tariffs are leading to significant price pressures for imported goods; instead, they observed the opposite trend in inflation data [2][3] - Since December, overall goods prices in the PCE data have increased by approximately 0.4%, while imported goods prices have decreased by about 0.1% [2] - Domestically produced goods have experienced more inflation than imported goods, further supporting the absence of tariff-driven inflation [4][6] - Despite concerns about future inflationary effects from tariffs, high-frequency data and academic research have not shown any sustained pattern of tariff-driven price pressures [7] - Volatility in inflation data is possible, but the long-run expectation is that foreign countries being tariffed will bear the burden [9][10] Economic Policy and Deficit - The administration's policies, including tax cuts, deregulation, and energy abundance, are projected to increase GDP by about 1% per year over 10 years, generating approximately $4 trillion in revenue [29] - Additional revenue is expected from tariffs ($3 trillion) and spending reductions ($1.5 trillion), contributing to an estimated $8.5 trillion to $11 trillion reduction in deficits over a 10-year period [29][30] - Reduced borrowing due to these savings is projected to lower interest expenses by about $1.5 trillion [30][31] - The "one big beautiful bill" aims to incentivize investment through full expensing on new factories, equipment, and R&D, allowing firms to choose investments based on market knowledge [24] - Government intervention in predicting consumer preferences and directing industrial policy is viewed as less effective than allowing market-driven investment decisions [22][23][24]

Fiscal Policy & Debt - The industry expresses concern about the rise of Modern Monetary Theory, which suggests debt doesn't need to be repaid if a country can print money, particularly with the US as the reserve currency [1] - The industry believes that mounting levels of debt and deficit spending are unsustainable [1] - The industry suggests the US government needs to be able to sustain itself, especially as the cost of interest for the Treasury is increasing [2] Bond Market & Risk - The industry anticipates significant issues among bond buyers due to accumulating debt and rising interest costs [2] - The industry observes that the term premium has increased, reflecting a sense of more risk associated with the US due to increased spending [2] - The industry advocates for fiscal conservatism to address these concerns [2]

Fiscal Overview - The US government's fiscal year 2023 reveals a significant deficit, with $6.16 trillion in spending against $4.47 trillion in revenue [1] - The annual deficit reaches $1.69 trillion, indicating substantial overspending [1] Revenue Composition - Individual income taxes and payroll taxes constitute the primary sources of government revenue [2] - Corporate taxes contribute a comparatively smaller portion to the overall revenue [2] Expenditure Allocation - Social Security, defense, and Medicare represent the largest categories of government spending [2] - Interest payments on existing debt consume hundreds of billions of dollars annually [1]