Katie Martin

That's not the basis on which I've got this job.

I've all been nominated by Trump.

I would do no such thing.

But on the other hand, when he's asked simple questions like, so Kevin, who won the 2020 presidential election?

He kind of goes, well, you know, there's a bit of a duck and a dive.

So is he his own man?

I don't know.

But he has got a real headache coming into this job in the sense that the inflation profile is higher than it was when he asked for the job and got nominated for the job because of the war in Iran.

So he can't necessarily cut rates in the way that he previously anticipated.

He thinks that AI enables him to do this, but I don't know about that one.

Yes.

To get to get the job, you must be this tall and have these opinions or be willing to say the following things in public.

Yeah.

But one quick observation I would make about this idea that he has that AI enables him to cut rates because it's so good for productivity and will bring down inflation is if that is really a thing and it's untested at this point, then that will be a global phenomenon.

And I would note that other central banks are not prominently having this conversation out loud.

And it strikes me as odd that this would only work internationally.

And the other is central banks are often accused of like fighting the last battle.

So, for example, they were really slow to raise interest rates when COVID hit and inflation kicked up because they spent years trying to get inflation higher.

But cutting because of a potential thing that might happen with AI in future while you're still dealing with an inflation problem today because of high levels of capital expenditure and because of the war in Iran seems like dumb.

Like fighting the next battle before the current battle is over strikes me as silly.