Tracy Alloway

It's just not going to work.

It's just not going to work.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

Okay, so I am a dispassionate journalist, as you said, which means I have no opinions whatsoever. I am going to quote some opinions from other people.

Okay, so I am a dispassionate journalist, as you said, which means I have no opinions whatsoever. I am going to quote some opinions from other people.

Okay, so I am a dispassionate journalist, as you said, which means I have no opinions whatsoever. I am going to quote some opinions from other people.

All right, let me hide behind others' opinions for this one moment. I've seen people ratchet up the expectation for a recession this year to like 89%, 90%. I mean, I haven't seen anyone ratchet up growth expectations. That's not happening. And again, if you look at what was happening in November of last year, people felt pretty good about the economy.

All right, let me hide behind others' opinions for this one moment. I've seen people ratchet up the expectation for a recession this year to like 89%, 90%. I mean, I haven't seen anyone ratchet up growth expectations. That's not happening. And again, if you look at what was happening in November of last year, people felt pretty good about the economy.

All right, let me hide behind others' opinions for this one moment. I've seen people ratchet up the expectation for a recession this year to like 89%, 90%. I mean, I haven't seen anyone ratchet up growth expectations. That's not happening. And again, if you look at what was happening in November of last year, people felt pretty good about the economy.