Nick Martell

You've got high inflation and high unemployment.

It's a rare situation.

So, you know, is that something we should be concerned about?

Yeah.

So, Nick, here's this scary story I'm going to tell by the economic campfire.

Here's the scenario.

This trade of Hormuz and high oil prices continue to drive up inflation.

And then on the other side, artificial intelligence drives up unemployment.

I'm not listening.

I mean, that's the stagflationary concern, which we'll deal with it when it comes, right?

But it sounds like we have an idea of what we would do.

Let's sprinkle on more context to the Fed.

Because one thing Jack and I should share with you as fans of the Fed, as we call ourselves.

Uh-oh, here it comes.

What is it?

No, we want to hear more of your descriptions of what you'd love about the institution.

Like for us, for us, you know, the fact that there are 12 regions, it's always like reminded us of like, you know, the NFL, right, Jack?

So most federal institutions have Washington, D.C., that's it.

Yeah.

But there are 12 Federal Reserve Banks, the best ones in Chicago.