Stephen Miran

And in my mind, we're not at that point yet because policy just became more restrictive because monetary policy just became more restrictive because our star just moved down.

We're not at the point yet where if you sort of keep it there another day, it's a crisis.

But if you keep it there for an extra year, yeah, I think you have problems on your hands.

No, I don't exercise executive authority whatsoever.

Well, as I said, I think a week, two weeks ago, I don't remember.

Time runs together for me these days.

The president called me after I was sworn in to congratulate me.

And that was very generous of him to sort of say congratulations.

And he has never, you know, he has never asked me to sort of take a specific policy action.

He shares his views about where monetary policy should be, but he shares that with the world.

No, no.

No, I have not.

And personal decisions are not decisions that I make.

You certainly ask interesting questions.

Good morning, and thanks for having me.

It's great to see you again.

Look, you know, walking into the room, you know, I had had a good briefing ahead of time about what the meeting would be like, and so that was very helpful.

But I will say that everyone was extremely friendly and welcoming and kind and collegial.

And I really appreciated that.

And, you know, it's important to understand that the FOMC is a body, the Federal Open Market Committee is a body that makes decisions by arguing on the merits of the economics and the economics and the merits of policy.