Richard Clarida

I agree with Torsten, who was on.

Earlier, you know, Chris is a good economist.

He's been consistent and had a good call on the labor market and inflation.

And he's made the case in many speeches that there is a case to get rates down to neutral.

So I take him at his word on that.

In terms of the press conference, obviously no SEP projections or the like.

And I think the reporters will be pressing the chair on what message they should take away from this in terms of the remainder of the year.

When you look at the politics here, I'm hesitant to say Chairman Clarida, but is this a moment where the president goes outside the chosen four candidates?

You know, there has been this speculation.

There was the reporting this morning.

You know, I know each of the candidates.

I think any of them would be a good choice.

They bring strengths to the job.

But there are a lot of moving parts when you're Fed chair.

And so it'll be interesting to see who they finally select.

You and I remember the day where Phil Graham went after Alan Greenspan on foreign exchange.

Richard Claret, is it appropriate that a Fed chairman speak of dollar dynamics, particularly the whipsaw of President weak dollar and Secretary of Treasury strong dollar?

Great question as usual, Tom.

You know, never say never, but both as a policymaker and as a student of policymaking, the Fed tries to stay out of any and all discussions about exchange rates, and I would expect Jay Powell today, if he's asked that question, to do the same.

Yeah.