This correction, led by precious metals and accompanied by pullbacks in Korean and US stocks, was actually expected. The January rally was too strong, too unsustainable. Coupled with the Fed Chair's choice of the hawkish Warsh, a potential QE/QT (Quick Easing) was triggered, leading to a thorough deleveraging in the market. However, my question is: Didn't Trump know Warsh was a hawk? Would a super-hawkish Fed Chair really provide the massive bull market he desires? Trump's think tank isn't just sitting around doing nothing. Warsh's father-in-law is even a close college friend of Trump's. Don't their families know him better than we do? Furthermore, the Fed's decisions aren't solely made by the Chair. Formal decisions come from the FOMC (Federal Open Market Committee): everything from interest rates to QE/QT requires a vote. Powell only officially stepped down in May, and this current vacuum feels like a time for everyone to let their imaginations run wild. Those without leverage shouldn't panic too much; those with some cash might see good buying opportunities in February.