Fed Knows Economy Is Weaker Than It Seems, This Is Next Move | Lobo Tiggre

Summary

Lobo Tiggre discusses inflation, Fed policy, fiscal dominance, and commodities. He argues inflation is sticky globally and that the Fed is cutting because the U.S. economy is weaker than it seems, while fiscal spending masks the weakness. He prefers copper as his highest-conviction 2025 trade, remains constructive on commodities, is modestly bullish gold, bullish silver, and still likes uranium.

• Inflation is described as sticky globally, with China as the main outlier.
• The Fed cut despite sticky inflation, which Lobo reads as an admission of underlying economic weakness.
• Fiscal dominance and deficit spending support an inflationary environment.
• Copper is Lobo's highest-conviction 2025 trade due to supply constraints and expected stimulus.
• He is tactically cautious on copper now and has discussed puts for a possible tariff-driven dip.
• Gold is seen as sideways-to-up, supported by inflation and central-bank buying.
• Silver is favored as both an industrial and monetary metal.
• Uranium remains liked long-term, but Lobo sees less near-term hockey-stick potential; Australian gold miners benefit from weak AUD costs.