Wealthion Macro Bites 9/24/25

The Fed covered all its policy bases on Tuesday.  Chicago Fed President Austan Goolsbee recommended caution about further rate cuts while inflation remains a percentage point above the Fed’s target, while Fed Vice Chair for Supervision Michelle Bowman said the Fed should downplay inflation concerns in support of a weakening job market.  In a Warwick Rhode Island speech, Chair Powell navigated the middle course, “Near-term risks to inflation are tilted to the upside and risks to employment to the downside—a challenging situation.”  Stock indices weakened after Chair Powell stated, “Equity prices are fairly highly valued.”

The Telegraph reports China has launched what amounts to a Manhattan Project to dominate the nuclear fusion supply chain in the same way China accomplished dominance in solar panels, lithium batteries, critical minerals and EV’s.  China has spent $13B since 2023 (more than rest of world combined) to capture the family of specialist industries that will underpin the rollout of fusion power plants.  Chinese Academy of Sciences Prof Zhang Jie says China is developing a form of inertial laser fusion 30 times more efficient than U.S. prototypes and capable of delivering baseload power at $25 per megawatt hour.

Shares of United States Antimony Corporation (UAMY) rose 13% on Tuesday after it announced a sole-source, five-year contract worth up to $245 million from the U.S. Defense Logistics Agency to supply antimony metal ingots for the defense stockpile. 

Odds of a government shutdown (70% on Kalshi) surged after President Trump cancelled a planned meeting with Democratic minority leaders Schumer and Jeffries.