Josh Barro

I'm doing great, Tim.

I'm doing great, Tim.

I'm doing great, Tim.

I'm totally refreshed. Really? I'm happy for you. What did you do yesterday? Did you get a massage or something? Green juice? No, I took two flights. I drove to the Inland Empire from Coachella and then flew through Salt Lake City to New York. Okay. Nice Delta Airlines day.

I'm totally refreshed. Really? I'm happy for you. What did you do yesterday? Did you get a massage or something? Green juice? No, I took two flights. I drove to the Inland Empire from Coachella and then flew through Salt Lake City to New York. Okay. Nice Delta Airlines day.

I'm totally refreshed. Really? I'm happy for you. What did you do yesterday? Did you get a massage or something? Green juice? No, I took two flights. I drove to the Inland Empire from Coachella and then flew through Salt Lake City to New York. Okay. Nice Delta Airlines day.

Yeah, well, so, I mean, first of all, to talk about what is supposed to happen in the bond market when things go wrong. I mean, normally when there's a crisis around the world, the U.S. dollar will strengthen and interest rates on U.S. government bonds will fall. And both of those are because of flight to quality. Basically, you know, people, they don't know what's happening.

Yeah, well, so, I mean, first of all, to talk about what is supposed to happen in the bond market when things go wrong. I mean, normally when there's a crisis around the world, the U.S. dollar will strengthen and interest rates on U.S. government bonds will fall. And both of those are because of flight to quality. Basically, you know, people, they don't know what's happening.

Yeah, well, so, I mean, first of all, to talk about what is supposed to happen in the bond market when things go wrong. I mean, normally when there's a crisis around the world, the U.S. dollar will strengthen and interest rates on U.S. government bonds will fall. And both of those are because of flight to quality. Basically, you know, people, they don't know what's happening.

They're concerned about future economic prospects. They want to be in the safest thing possible and normally the safest thing possible. is U.S. Treasury bonds and the U.S. dollar. There was also an expectation that the dollar would strengthen if we started imposing tariffs because that's what happened last time around when the Trump administration imposed tariffs specifically on China.

They're concerned about future economic prospects. They want to be in the safest thing possible and normally the safest thing possible. is U.S. Treasury bonds and the U.S. dollar. There was also an expectation that the dollar would strengthen if we started imposing tariffs because that's what happened last time around when the Trump administration imposed tariffs specifically on China.

They're concerned about future economic prospects. They want to be in the safest thing possible and normally the safest thing possible. is U.S. Treasury bonds and the U.S. dollar. There was also an expectation that the dollar would strengthen if we started imposing tariffs because that's what happened last time around when the Trump administration imposed tariffs specifically on China.

And the idea there is, you know, if you impose tariffs, we are not importing as much as we would have otherwise. So we're not sending as many dollars abroad. And so basically other countries, in order to get dollars to buy things from us or to buy U.S. Treasury bonds, they have to get them from somewhere. They basically have to bid up the price of the dollars. There was this

And the idea there is, you know, if you impose tariffs, we are not importing as much as we would have otherwise. So we're not sending as many dollars abroad. And so basically other countries, in order to get dollars to buy things from us or to buy U.S. Treasury bonds, they have to get them from somewhere. They basically have to bid up the price of the dollars. There was this

And the idea there is, you know, if you impose tariffs, we are not importing as much as we would have otherwise. So we're not sending as many dollars abroad. And so basically other countries, in order to get dollars to buy things from us or to buy U.S. Treasury bonds, they have to get them from somewhere. They basically have to bid up the price of the dollars. There was this

expectation that we would impose these tariffs and the dollar would strengthen. And Scott Besant, the Treasury Secretary, was going around telling people that this would happen.

expectation that we would impose these tariffs and the dollar would strengthen. And Scott Besant, the Treasury Secretary, was going around telling people that this would happen.

expectation that we would impose these tariffs and the dollar would strengthen. And Scott Besant, the Treasury Secretary, was going around telling people that this would happen.

He said in his confirmation hearing, people say Americans will pay the tariffs, but because the dollar will strengthen, Americans will be able to buy more than they could before because the dollar will have more purchasing power, and that will offset maybe 40% of the cost of the tariffs, is what he told members of the U.S. Senate when he was seeking his confirmation.

He said in his confirmation hearing, people say Americans will pay the tariffs, but because the dollar will strengthen, Americans will be able to buy more than they could before because the dollar will have more purchasing power, and that will offset maybe 40% of the cost of the tariffs, is what he told members of the U.S. Senate when he was seeking his confirmation.