Scott Bessent

And the U.S.

became the worldwide winner last year.

We've had the best performing bond market, best performing markets since 2020.

And I think that was for a

and everyone went from the tariffs, their doomsday machine to, hmm, maybe tariffs are taking us to the promised land in terms of fiscal pay down.

And I also think inflation expectations have remained well anchored.

Back to Jason's question, why 2%?

We've chosen 2%.

And I think

It's very difficult to do a mid-air refueling or to call an audible on two when you're above two, because then it looks like when you're above a level, you will always fudge upward.

So I think there is a very robust conversation to get back.

Once we are back to two, which I think will be in sight, then we can have a discussion.

Is it much smarter to have a range?

What drives me crazy, the economy, the markets are biology.

They're not math.

They're not physics.

They're nonlinearities.

They're very complex systems.

They're mutations in the system.

And this idea that we can have this decimal point certainty is just absurd.