Scott Bessent

I would expect that it would come down much more.

Oil is down substantially.

Gasoline follows it with a lag.

Rents are down.

And we are now seeing the effects of what 10 to 20 million undocumented people coming into the country did for rents.

This mass unfettered immigration for

D and C rent levels was through the roof.

There's a study from Wharton that shows that 1% of

Population increase in a city leads to 1% rent.

So we can see why rent went up, that if the migrants are going home, we are now seeing rents are down about 5%.

I think that trend will continue.

Again, the inflation numbers are starting to roll down.

I think that they will.

And then the other side is real incomes, which I think are starting to accelerate.

Real incomes are up about 1.8% since President Trump took office.

And that's back to the Main Street question.

Well, again, it's amazing when a good number comes out, then it switches to that.

And Jason, just let me tell you, every Wall Street predictor on Bloomberg was wrong.

So what do you do when you're wrong?

You blame the measurement.