Merk Investments Founder: Fed Tightening Won't Fix Fiscal Deficit, Gold Retains Long-Term Value

English summary

Prominent fund manager Axel Merk argues that although Fed Chair Kevin Warsh has restarted a tightening cycle and enhanced policy credibility, he cannot resolve the US's high fiscal deficit. He believes the debt-driven AI model poses risks that could lead to future rate cuts, maintaining gold's prominent value as a hedge and asset allocation tool.