Tom Keene

Or is it just an emergency as usual?

Can I ask one non-storm question?

Yeah, what is so fascinating is you've been very vocal in your support of our new mayor, and you've also said that we need a lot of study of free buses.

Give us an update on how close we are to free bus service of the MTA.

Amid the storm, thank you for the conversation.

Jenna Lieber is with the MTA chair and CEO as well.

He is magnificent.

The essay at High Frequency Economics is a yield-based analysis of the economy.

It is what Carl Weinberg did at Lehman Brothers for decades.

And he was just thrilled that he could join us here this morning.

Carl, I love your research note in that you say the labor market's going to hover, but GDP may be light.

Link the two together into the first part of 2026.

but there's no promise that those productivity gains are going to continue into the fourth quarter so gdp growth may be capped if you will by the economy being at full employment right now i i really i'm more focused folks on the soggy gdp outlook of selected economists mr myron wants six rate cuts one and a half percent down down down is that a carl weinberg theme

This is Kurt Weinberg and Michael Ferroli at J.P.

Morgan.

This phrase, potential GDP, none of these people within the Trump administration talk about it.

It's like they're blind to it.

Carl, we've got some time left here.

I want to get you on much more in 2026.

You should see where he lives.