Rob Armstrong

Fine.

But that does mean now we are going to find out the real Kevin Warsh is now going to show up.

What does he really think about cutting rates into an expanding economy where inflation is a percentage point above target?

We're about to find out.

I offer to you that we have no idea what he really thinks about that.

And we have to hope that it is a sensible and moderate.

I mean, you know, I personally think rates where they are fine, stay the course, be boring, would work just fine here.

Let's hope he's that guy.

I think you're exactly right.

And that was actually what's so radical about what Warsh said about AI.

It wasn't that higher productivity is going to come through.

And when it comes through, we will have more leeway to cut rates into growth.

His point was, if you wait for the productivity to come through, it's too late.

That you have to do it before you see it happen.

And that seems to me to be a completely bonkers view.

I wouldn't touch with your monetary system.

But again, I don't know if he believes that or not.

He has to have some story to tell that will satisfy Trump that he's a rate-cutting guy.

And that was the story he had.

And I sympathize with the guy.