Bank of Dallas, argues the opposite. She says US small business bankruptcies are up 64% year over year through August, that more than 200 companies have closed every month for five months running, and that 57% of Americans who took cash out refinancing in Q2 accepted a higher mortgage rate to do it.
On the data behind the decision, she says the seasonal adjustments at the Bureau of Labor Statistics are "clearly broken" and the official numbers are "at best misleading." On where that leaves investors, she says that whenever there is stress in credit markets, the only place you can hide with any certainty is precious metals.
Recorded September 16, 2026
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00:00 The Fed Just Hiked for the First Time in Three Years 01:26 Why Warsh Calling It "a Dose of Accommodation" Spooked Markets 03:03 Would the Fed Really Hike Again Days Before the Election 05:07 The Retail Sales Number That Isn't What It Looks Like 07:31 The Warning Shot Aimed at the Treasury 09:18 Small Business Bankruptcies Are Up 64% 11:00 The Fed and Main Street Are Looking at Two Different Economies 12:00 How a Margin Squeeze Becomes a Layoff 12:45 What This Hike Costs a Household This Week 16:15 The Only Place She Says You Can Hide With Any Certainty 17:37 Why She Says the Jobs Data Is Broken 19:07 What Breaks First if the Fed Got This Wrong
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Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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