Sudip Reddy

It's very hard for everyone else to make decisions when you don't know, is inflation going to go up or is it going to come down?

Is the job market going to stabilize and recover or is it going to fall apart?

That's not a great environment to be in, whether you're a consumer or a business or anyone else in the economy.

The number one thing I'm looking at is what is the impact of immigration and tariffs, tariffs being far higher than they once were, immigration being far lower.

Ultimately, that will have a significant effect on the economy, and we have not been able to figure out exactly how significant, but those are the things that will define the overall trajectory in 2026.

And

when you figure those out, it will all make sense in retrospect.

Uh, it does not make sense right now, which is part of the reason why things are so cloudy and why everyone's a little nervous about what's going to happen in the coming months.

It is a huge challenge.

It is a challenge that's going to weigh on tens of millions of people and their economic well-being and their households.

It's going to weigh on how they spend money.

It should be weighing on every lawmaker because of the number of people who are concerned about it.

uh, even beyond the folks who get subsidies.

Uh, it is, it is tied centrally to our politics.

The, the, uh, healthcare questions, inflation, affordability is central to everything that any, uh, elected official is thinking about these days.

So, uh, it is, it is top of mind for everyone here.