Stephen Miran

So I don't know what those conversations were like.

But if they were anything like the conversations I had with the president about monetary policy, then he wouldn't have asked him to take any specific actions.

You do that by taking policy actions that are consistent with the data.

And I think that, you know, I've laid out a case where the inflation measures that are consistent with supply, demand and balances in the economy, the inflation measures that are relevant for monetary policy are indicating that there's no material overheating, that there's no material inflation issues in this country right now.

So by taking policy steps that are consistent with the economic data, that are justified by the state of the economy, I think you're delivering the right policy.

At the end of the day, the financial markets and the economy respond to whether the policy is the appropriate policy or not.

They don't respond to why the policy is there.

Right.

The interest rate doesn't really care why, you know, the long end of the yield curve ultimately doesn't really care why the short rate is where the short rate is.

It cares whether the short rate is appropriately set and what the consequences of the short rate are for the economy.

The motives of the people who went into sort of setting the short rate, those aren't really important.

Is it the right policy for the economy or not is what matters.

And I think that that's what I've that's what I've labored to labor to work for is to sort of is to do a lot of a lot of analysis of the inflation scenario a lot of analysis of the labor market a lot of analysis of the economy and put that all out there.

And I put all of my analysis out there all the time.

I try and be as transparent as I possibly can with my calculations.

Everybody knows exactly why I hold the views I hold.

Well, first, let me say that I honestly have no idea what I'm going to be doing, you know, after Chairman-designate Warsh is confirmed.

I have no idea.

You're not going back to the White House?

I have no idea.