Michael Ball

The market's kind of mulling everything over.

It's not seeing a clear picture on the AI angst for sure.

There hasn't been any new developments there to put that to rest.

And on top of that, as you just said, the geopolitics are kind of weighing more and more every day as oil creeps higher.

I think the markets got comfortable looking at a mosaic of data, especially for the labor market where we have a lot of touch points.

Obviously, the PMI yesterday was much stronger than expected.

And that gave some, you know, again, credence to this view that we are reaccelerating.

So, of course, it'll depend on how long the shutdown is.

But I think for now, this isn't going to be like a ball event where you're going to see a de-risking because we have a lack of this data on Friday.

He says the Fed's guilty of mission creep, thinks they do too much, and he thinks Fed officials over-communicate.

He has praised Mickey Bowman and her deregulatory efforts, but is willing to give up bank regulation, at least most of it, if he becomes Fed chair.

And that may be what appeals to the president.