Rafael Bostic

That's it.

Your revenge for the check-in question.

I'm trying to understand how much of the turbulence that we're seeing is likely to be episodic versus how much is it going to be structural.

You take AI and technology.

There are lots of reports, and you all have done a number of these as well,

to suggest that these new technologies are going to change the way that businesses think about how many people they need to produce the goods that they want to produce.

That could be a structural change.

If that winds up being true and it winds up penetrating through the entire economy, then all of our benchmarks are going to have to change.

Like how we think about what a good jobs number is or

what unemployment rate that's reasonable should be, because the same number is sending a very different signal.

And then there are some things that could be episodic, but they also could be structural.

So you think about the tariffs.

President Trump in his first term introduced tariffs.

President Biden kept them.

And now we've doubled down in Trump, too.

Is it episodic?

Will we at some point return back?

Or is this our new reality that all businesses are going to have to adapt or adjust to for the next 10, 15, 20 years?

So I actually don't think it's ever 100% in our control.

Yeah, no, granted, granted, right?