Bill Curtis

So I understand that there are 12 Federal Reserve Banks And some of them, some of you presidents get to be in that open markets committee. And that's like this weird arcane thing where you meet and everybody stands outside like you're naming a new pope.

So I understand that there are 12 Federal Reserve Banks And some of them, some of you presidents get to be in that open markets committee. And that's like this weird arcane thing where you meet and everybody stands outside like you're naming a new pope.

So I understand that there are 12 Federal Reserve Banks And some of them, some of you presidents get to be in that open markets committee. And that's like this weird arcane thing where you meet and everybody stands outside like you're naming a new pope.

And then what always happens is the head of the Federal Reserve comes out and he announces that if you're going to raise or lower or leave interest rates alone.

And then what always happens is the head of the Federal Reserve comes out and he announces that if you're going to raise or lower or leave interest rates alone.

And then what always happens is the head of the Federal Reserve comes out and he announces that if you're going to raise or lower or leave interest rates alone.

Do you guys get into, like, rivalries? Like, you know, you sort of try to... Oh, yeah.

Do you guys get into, like, rivalries? Like, you know, you sort of try to... Oh, yeah.

Do you guys get into, like, rivalries? Like, you know, you sort of try to... Oh, yeah.

Try to... Give me an example of how you would talk trash with the head of the Atlanta Federal Reserve Bank.

Try to... Give me an example of how you would talk trash with the head of the Atlanta Federal Reserve Bank.

Try to... Give me an example of how you would talk trash with the head of the Atlanta Federal Reserve Bank.

Oh, man, Austin's going on about the pumpkins again.

Oh, man, Austin's going on about the pumpkins again.

Oh, man, Austin's going on about the pumpkins again.

We did, in fact, want to talk to you about what's going on. You may remember that when you joined us back in 2018, we asked you if you could explain what tariffs were and how they worked. And you gave us this wonderful metaphor of using a tariff to fix your economy is like using an explosive to clear a clogged drain. And that you may get good results.

We did, in fact, want to talk to you about what's going on. You may remember that when you joined us back in 2018, we asked you if you could explain what tariffs were and how they worked. And you gave us this wonderful metaphor of using a tariff to fix your economy is like using an explosive to clear a clogged drain. And that you may get good results.

We did, in fact, want to talk to you about what's going on. You may remember that when you joined us back in 2018, we asked you if you could explain what tariffs were and how they worked. And you gave us this wonderful metaphor of using a tariff to fix your economy is like using an explosive to clear a clogged drain. And that you may get good results.

Exactly. It was amazing. And so if your Aunt Trina's lasagna was sufficient to explain the relatively low tariffs that President Trump was putting in place then, what would be adequate to explain what he's doing now?

Exactly. It was amazing. And so if your Aunt Trina's lasagna was sufficient to explain the relatively low tariffs that President Trump was putting in place then, what would be adequate to explain what he's doing now?