Kai Risdahl

And is it still appropriate?

And that kind of thing.

Is it still appropriate, that is, to send the message that an interest rate cut might still be in the mix?

It's a good question, right?

You see, inflation has moved up over the interim a bit.

Core inflation is 3.2 now, moving, albeit just a little bit, in the wrong direction.

And we know that there will be, you know, that there's headline inflation coming out of the Gulf, and we don't know how much that will be.

We just, we're going to need to see.

One might even say he wants more data.

There's so much uncertainty about the path ahead.

There doesn't need to be any rush to make that decision now because, you know, what happens in the next 30, 60 days, even by the next meeting, could really change the picture around that language.

So, you know, it's a much closer thing on the committee than it was in March.

Anyway, it's going to be, unless something really surprising happens, Kevin Warsh in the big chair the next time the Fed meets.

That will be in the middle of June.

I won't see you next time.

Wall Street today, a little up, a little down.

A little mic drop there from Chair Powell.

Oil, though, we are going to have the details when we do the numbers.

The Federal Reserve is holding its short-term interest rates steady, yes, but rates on long-term government debt have been rising ever since the president started his war with Iran.

That's happening partly because investors are worried about all the inflation the war is causing, and partly because the war is adding to an already enormous pile of government debt.