Paul Sweeney

I'm Dan Schwartzman, and this is Bloomberg.

Claudia, you have posts on LinkedIn recently how you say that the typical recession rules of thumb are no longer working.

What do you mean by that?

Claudia, can the U.S.

economy, or any economy for that matter, grow consistently without population growth?

No.

How about that?

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So it's about 1943, but you know, 1939, 1943, what's a couple of tariff rates between friends at this point, right?

It's high, I think is the real point.

I mean, you're still gonna see continually rising prices.

One of the things that we've been talking about is trying to figure out how much of the tariffs have actually been passed through already.

I think the sort of back of the envelope easiest number to kind of fixate on is around 50%.