Ian Verrender

I'm not sure who the one holding that would be, possibly the Treasury Secretary, who knows?

But yeah, it's really quite an interesting situation now.

That's the thing that worries me the most out of yesterday's meeting and the press conference where all of the forecasts that they've made are predicated on the idea that the Gulf situation will be resolved within the next two months.

So we're talking six to eight weeks here and that everything will return to normal and it'll all be hunky-dory.

Well, I don't think that's going to happen.

I mean, you know, what you've seen is a continual shift from the U.S.,

Well, there's another announcement saying epic fury is over, right?

The whole war's ended.

We've achieved our objectives.

But what does that mean?

The Strait is still shut.

I mean, all of the threats seem to have come to naught.

The ultimatums have been extended.

There's no credibility really left in America's argument here.

So I'm not sure how they get out of this with any kind of credibility intact.

And this is what the assumptions, the underlying assumptions are really based upon, that this is all going to come to an end.

Now, I guess if you want to take something positive out of the meeting yesterday and out of the press conference that Michelle Bullock gave, it was that she said, we've done three rate hikes in succession.

There's now time to be able to sit back and see what's going on.

She also suggested, however, which is bad news, is that the three rate hikes have merely been put in place to arrest the inflationary pressures that existed before the war with Iran broke out.

And so that kind of suggests that we're going to see more.