Austan Goolsbee

And one of the main rules of the data dogs is sniff every piece of data that hits the floor because it might be dinner.

I love me some data, for sure.

But I hesitate to say, oh, I'm heavily on the data side because that feels like it says I only look backward.

And that's totally not.

I do not totally...

focus on the rear view mirror.

So I'd say vibes probably upped a bit since I've been to the Fed, partly because now I have really amazing access to the executives at the highest level.

So whether they're on my board of directors or business roundtables we're doing, they're

They'll say, the last three weeks, X has happened, and that's not going to show up in the data yet.

But remember, we talked about the Fed's dual mandate.

It says, by law, what we have to do is stabilize prices, maximize employment, and that's about the hard data.

Okay, so if the vibes tell us something about what's about to happen in the hard data, then we should and do pay attention to it.

But you're never going to hear me say, you know what the Fed should do?

The Fed should target vibes.

Who cares what the inflation rate is?

Let's target what people, how people feel.

I'm not that, I'm not that guy.

Yes.

Look,

I was just in Rockford, Illinois.