Kai Risdal

Kate, my note prompting me on the next question I wanted to ask you is, and this is a quote from my notes, dissent make me care.

Much talk, of course, about how there were three dissents in this meeting, two that preferred not to cut at all, one that wanted to cut even more.

Is this – and Powell talked about it a little bit.

He said we had a robust discussion and all of that jazz.

But it seems to me this is what we ought to be bracing ourselves for because the economy can't make up its mind.

The board now is more fractured and we ought to just get used to this, no?

Sadiq, let me ask you this, though.

This is kind of a cynical question.

Every time you talk to a Fed official, Powell or anybody else, about to whom they are trying to communicate, they always say we want the American people to understand what we do, which, fine, sure.

But honestly, they're really talking to the markets.

And if I'm some guy in Ottumwa, Iowa, trying to make my mortgage and make my car repairs, the unified Fed message doesn't really matter all that much, right?

Kate, I'm going to get on the leading edge of what is going to be a whole swarm of coverage about Powell's legacy.

He was asked about it at this meeting.

He said, I just want the economy to be in the best shape possible.

You lead the Fed team at Bloomberg.

You have, I'm sure, decades of wisdom behind you and you've got your own experiences.

What is your take on Powell's legacy as we sort of enter the homestretch here for him?

From the guy who appointed him, we do have to point out.

Sadiq, I'm asking you this question in your capacity as the guy running things in Washington.

Well, you get to decide who's running things, but for MSNOW.