Maggie Lake Talking Markets Episode 83: Will The Fed Give The Market What It Wants? With Jared Dillian.
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Sep 15, 2025 
Jared Dillian, an expert in finance and markets, shares his insights as the editor of The Daily Dirtnap. He discusses whether a 25bps rate cut by the Fed could be interpreted as hawkish amidst a backdrop of declining economic data. The conversation touches on gold’s remarkable rally since 1979 and President Trump's controversial proposal to eliminate quarterly earnings reports. Dillian also explores global investment trends, including Latin America, and reflects on the relationship between market sentiment and historical financial crises.
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China Deal Would Lift Dollar; TikTok Is Tricky
- A US-China trade deal would likely strengthen the dollar and be broadly bullish for global assets.
- Jared flags TikTok details matter, especially whether the algorithm truly transfers to U.S. hands.
Tariff Ruling Could Shift Dollar And Bonds
- Jared expects the Supreme Court tariff case could be fast-tracked and may rule against unilateral presidential tariff power.
- He warns a decision against tariffs would worsen the deficit outlook and could be negative for bonds.
Gold Miners' Profitability Justifies Strength
- Gold miners surged over 100% this year and miners are currently highly profitable with big margins.
- Jared thinks miners are unlikely to repeat past capital allocation mistakes yet sees room to hold rather than trim now.