Mike Wilson

You have to actually win the game.

But all of these companies are competing for the trophy.

So in that competition, I think we continue to see this velocity of spend.

And then we're going to see the most exciting part about this AI spend, to me, is we don't even know yet

Okay, these new businesses that are going to be created, these new industries that are going to be created, the efficiencies we're going to get in areas like healthcare or education or manufacturing, that's on the come.

That's really where wealth creation is going to be coming from.

You're probably not going to like my answer, but it doesn't matter to me because ultimately the market's going to tell the Fed what to do.

I mean, that's my general... That's always been my view.

People hate it, but I'm a markets person.

The market's dominant.

The markets tell investors what to do.

So the markets will kind of force their hand.

If the markets believe they need more liquidity, they will force the Fed's hand.

If the market believes it needs more rate cuts, it will force their hand because...

we've become so financialized at this point, right?

The Fed now is basically obligated to make sure that we have financial stability to some degree.

And they're also, they have an obligation to help Treasury fund the government.

So I don't believe the Fed is independent.

I believe they're trying to work, you know, in the best interest of Americans.

Okay, I'm not saying they're dictated by the White House.