Stephen Miran

You know, from my perspective, some of that stuff is helpful for understanding where the economy is going, but

I don't believe in targeting a specific sector of the economy.

I believe that the statutes that Congress gave us instruct us to target the overall macroeconomy as a whole.

And I'm focused on aggregate employment.

I'm focused on aggregate inflation.

And so I do see there definitely are pockets of weakness here and there, but I'm focused on the overall levels.

Oh, no, there absolutely is, because it can help you predict where the overall is going to go, right?

And I did that a moment ago with the labor market.

As I was saying, if you look at younger folks, if you look at folks that have college degrees, if you look at folks that are marginally attached to the labor market, I think that very often they're leading indicators of where the overall labor market is going to go.

And they portray additional slack beyond what just the unemployment rate itself would give you.

And I think to the extent you're seeing weakness in some small business segments like the Amex CEO that you mentioned before, that is the type of thing that I would be interested in knowing more about in terms of what it portends for the overall economy.

Look, I think Neil is fantastic.

I'm a huge Neil fan.

But I think that Chairman-designate Warsh has a long and illustrious career in history as a very insightful thinker on monetary policy.

I think he's a fantastic pick from the president.

I think he's got enormous credibility.

I think he's got enormous gravitas.

I think he's got enormous respect.

from financial markets, from economists, from everyone.

I think he's going to do just a knockout job.