Rachel Siegel

So much of what Chair Powell says is that they can put in their forecasts and pencil in their estimates for what's coming based on the information in front of them in that moment.

And

And

Now, if the Supreme Court has the ability to pretty drastically overhaul what that information going into those forecasts looks like, I guess I'm just so curious about how the Fed is both going to continue to explain its own expectations for inflation and also just what this continues to do to our ability to model anything and have any sense of what's coming if we're trying to have it with some sort of data-driven information.

Now, if the Supreme Court has the ability to pretty drastically overhaul what that information going into those forecasts looks like, I guess I'm just so curious about how the Fed is both going to continue to explain its own expectations for inflation and also just what this continues to do to our ability to model anything and have any sense of what's coming if we're trying to have it with some sort of data-driven information.

Oh, no.

Oh, no.

I mean, I if I were Kevin Warsh, which I am so obviously not, I just feel like it's telling, you know, it's going to be telling what Chair Powell says, you know, he's going to sort of set the table for how the Fed is thinking about not just this decision, but the information in front of them.

I mean, I if I were Kevin Warsh, which I am so obviously not, I just feel like it's telling, you know, it's going to be telling what Chair Powell says, you know, he's going to sort of set the table for how the Fed is thinking about not just this decision, but the information in front of them.

And yes, Kevin Warsh is going to be new, but he's going to be stepping into an economy that already exists.

And yes, Kevin Warsh is going to be new, but he's going to be stepping into an economy that already exists.

And, you know, a set of forecasts that already exists.

And, you know, a set of forecasts that already exists.

And I think that

And I think that

that sets up a kind of test for him about how much he pivots from that.

that sets up a kind of test for him about how much he pivots from that.

You know, he's going to come in with his own biases and own opinions and information like anybody would.

You know, he's going to come in with his own biases and own opinions and information like anybody would.

But he's also coming into a table that's in many ways already set for him and with certain expectations about how the Fed's supposed to react to that.