Jonathan Ferro

Mike McKee, thank you, sir.

Stay close.

We'll come back to you a little bit later in the program.

We talked about this in the immediate aftermath of the decision, that dissent from Governor Waller for a 25 basis point reduction.

We heard from Vice Chair, former Vice Chair Richard Clarida, from Torsten Slocke of Apollo, essentially calling it unfair to characterize this as a man purely voting for a reduction to keep his name in the running to become the Fed chair.

That has been a man who's delivered effective leadership, thought leadership of the Federal Reserve and caught every single turn in the economy over the last several years.

I wish I lifted like he did.

Have you seen him deadlift?

Oh, yeah.

Have you seen this video?

It's ridiculous.

Yeah.

It's ridiculous how much weight he lifts.

But yes, please continue.

I want to avoid the politics of this, Tom, but we've complained so much about groupthink at the Federal Reserve.

We can't complain when someone sticks their neck out and says we need to do something different.

And this is why I think we need to do this differently.

Risk cut both ways.

And we've seen that coming out of the pandemic, how wrong the consensus has been.

Jeffrey Rosenberg of BlackRock joins us now to weigh in on all of this.