Okay.

Number one, that it was unanimous.

And I remember I called out right away, "Someone check, uh, Truth Social." [laughs] And the second, uh, little bit of surprise was that the press release was so short for such a big announcement, and of course the, um, thirty-minute, uh, press, uh, conference, which is about half of the usual time.

Those are the three big surprises that came to me.

But overall, certainly a lot more hawkish.

Just again, the fact that it was a, um, um, the, the, it was a un-unanimous vote, and in some of the comments which the Fed chair gave, a lot of it was like a repeat of what he said back in Jackson Hole, um, but he hasn't swayed from that at all.

So, uh, you know, it sounds like we do have, uh, one more rate hike to come before the end of the year.

Uh, in terms of that unanimity, do you expect that to continue as we head further along?

Mm-hmm, mm-hmm.

Into, into dif- two different pieces.

So, and split it up and, and continue operating it.

Maybe you decide that it's time to hang it up, and we need to look at finding a buyer so we can get the best number for it, and that's a, a timeframe that you really devote to, okay, how do we tighten up the business and the numbers so that we can get the best opportunity to exit? And then we're splitting that in, in divorce.

You know, again, it, it really goes back to that relationship and what is it and what can we work with, and then we're navigating within that space.

You know, with your clients, if you have an irrational person, you're gonna have an irrational divorce.

And if you have somebody who says, "Look, you know, I'm just not in love with you anymore, but I'd, uh," you know, the, the s- the parent to our children, then, uh, and we're gonna have to live to see each other and, and be in each other's lives for the next 30 years, so let's do this in a, in a respectful way.

... uh, are those calculations that you make?

Yeah.

And I get my yes and no responses from something called the sway test.

So it's a little lean forward for a yes, and a little sway backwards for a no.

And I just work through a chart of emotions until I get the right emotion that says, yes, this is the one that we want to release.

And we also ask the age that the person is when they experienced that emotion.

And sometimes the person at that point will go, "Oh yeah, that's when this happened," or, "Oh, I've no idea what that was, but ready to let go of it." And we then focus all of our attention to the governing meridian on the spine, and we draw a magnet down it.

And all that's doing is bringing the attention of your body to bring the energy of that emotion to the spine and out through the root chakra into the earth, and we're just letting the earth then recycle that energy.

Who is this service for? What, what would you say your customers are like? Who are they?

That's awesome.

Um, but in terms of the data this morning, definitely a bit of a shock.

Um, I was expecting a weaker, um, US jobs number, but I was not looking for a negative, so that was a little bit of an eye-opener.

And of course, you have the double whammy of a weaker, um, retail sales figure.

So this puts, uh, you know, the doves on the, uh, the, the minority of the do- of the doves on the Federal Reserve right back into play.

You know, you had, uh, Waller, which I thought was interesting just a couple of weeks ago, I think, when he said that the next meeting would be a coin toss.

And I was thinking, "Wow, that's an interesting little twist." But, you know, I'm sure now he's gonna be firmly still on the, uh, on the side calling for rate cuts.

With all the adjustments, hedonic this and technology and AI, what does this 4.4 statistic feel like right now? Like 6% or 7% unemployment?

That's awesome.

Um, but in terms of the data this morning, definitely a bit of a shock.

Um, I was expecting a weaker, um, US jobs number, but I was not looking for a negative, so that was a little bit of an eye-opener.

And of course, you have the double whammy of a weaker, um, retail sales figure.

So this puts, ah, you know, the doves on the, uh, the, the minority of the do- of the doves on the Federal Reserve right back into play.

You know, you had, uh, Waller, which I thought was interesting just a couple of weeks ago, I think, when he said that the next meeting would be a coin toss, and I was thinking, "Wow, that's an interesting little twist." But, you know, I'm sure now he's gonna be firmly still on the, uh, on the side calling for rate cuts.

So we're gonna see how all of this pans out.

With all the adjustments, hedonic this, and technology, and AI, what does this 4.4 statistic feel like right now? Like 6% or 7% unemployment?

What are your thoughts?

Oh.

(laughs) Well, good morning and thank you very much for having me on, on this very busy Tuesday.

Um, you know what? I, I, it's, it's definitely not my role to make calls on the equity market.

Um, but I will say this, just given all of these balls that are in the air, that some of them are being dropped and some of them are being, are being caught.

You know, there's this, it's, it's the, it's a whole world of uncertainty and this is the world that we are living in now, which could cause a lot of chaos in almost everywhere.

You know, uh, and certainly, um, I'm sure it caused a lot of, um, um, high level discussions or heated discussions at the latest, uh, Fed meeting as an example, which is why we saw so many, uh, uh, different views that are being displayed right now or being, uh, um, uh, projected out to the, to the, to the world about how they see the, uh, monetary policy playing out.

So what will you be looking at specifically in terms of private data, uh, to sort of piece together the jobs puzzle?

With the Bank of Montreal, BMO Capital Markets, Jennifer Lee here on the economy forward.

I was very torn.

I was like, do I want a strong number to sh- to signify, you know, that the US economy remains resilient or do I want a weak number because it shows that the Fed is going to have to start cutting rates, um, um, starting next month and by how much? Um, so I was torn but you know, I'm kind of li- I kind of lean toward, you know, I want a stronger economy, a more resilient economy.

And the retail sales numbers approved that.

Um, it wasn't wall-to-wall strength.

We saw some pullback in pl- in things like eating out, dining out, for example, which is wha- something I like to keep an eye on all the time.

But there's more spending on things like sporting goods and on clothing and things like that.

Mm-hmm.

(laughs)

I think that's basically what I get every, every time I'm on a, on a br- on a early morning flight.

Um, watching the data.

Watching...

I think inflation is, is probably like the, the, the biggest, uh, report, uh, right now to, to keep an eye on.

But of course, this morning's retail sales numbers, uh, uh, were also very interesting and I was very torn.

I gotta tell you this.

Uh, what's your take on the US labor market?

Where will real GDP head?

Uh, good morning, and thank you very much for having me on.

Yes, well, right now, it looks like GDP is headed lower in terms of growth.

Um, you know, we're not looking for, uh, a recession in the US, but that the risk of this continues to rise, just given, obviously, this escalating higher and higher tariff war.

I'm losing track of all the percentages, uh, right now, but it looks like, you know, we are maxxed out at 145% on one side, 125% on the other side.

So we'll see how this plays out, but this is, you know, obviously not good news for US consumers.

You're gonna be paying higher prices, even though, you know, we brought all the other, um, countries down to a baseline of 10% tariff.

We're not trading with them anymore." I mean, so in your models, are you modeling zero trade between China and the US on a forward basis?