Michael McKee

Yeah, right now we're looking at nine votes, four and three dissents.

Bob Michael of J.P.

Morgan with us here.

What's your first reaction of this decision?

So not maybe as hawkish of a cut as people thought it might have been.

Joining us now is Jim Bianco of Bianco Research.

Jim, what's your first reaction to this decision, which, as Bob was saying, isn't as bad as it could have been?

It could have been four dissents or five dissents, only three dissents.

Is this a victory for Jerome Powell?

Bob, you were saying that you wanted to respond?

Let's find out.

Mike, you were parsing through this.

You've got something to add.

What do you see?

Michael McKee, thank you so much.

We will be catching up with you and, of course, listening to your questions.

Jim, this is something that is near and dear to your heart as you call yourself a self-dub inflationista.

Do you think that this really adds to that inflationary pressure?

if the Fed essentially is accepting that they're not going to get down to their inflation target for six, seven, potentially even eight years?

Part of the problem is people get overwhelmed by the state of events.