So can you talk to me a little bit about what it would require for that rate hike to happen or the chances of that rate hike to go up?

Yeah, this is a really, really important question, is if we've got the betting, the parlor game of what the Fed is going to do, what's the data that's going to matter? There's no question the data is inflation data.

We had a jobs redo, if you will, today that didn't even make the headlines.

It was pretty much a non-event.

But clearly there's a tone there of a fully employed America, which so many of our listeners and viewers don't.

would aggressively disagree with.

I had a kid last night point blank tell me how difficult it is for recent college graduates to get jobs.

From the folks you're chatting with out there, do you think he did regain some of the credibility that perhaps may have been lost?

I mean, we, we see a Treasury secretary now, Tom, engaged in yield management, which customarily, historically, traditionally has been the provenance of the, the Federal Reserve chairman.

Well, the, the, they're two different things, but the basic idea is the Fed is independent, and we still have that independence.

I think the check here at Jackson Hole and the check here right now, as we chat on a Monday morning, or frankly Monday morning in Tokyo when they open in Japan, the check is, is the markets will corral, uh, the Treasury secretary.

They don't have to corral the Fed.

The Fed is an independent body and has still proven is an independent, uh, body.

I would suggest the great unspoken here now, and also to get to next Friday and beyond, the great unspoken here are the governors and the presidents of the Fed have a voice.

It'll be fascinating to see the body language in m- the next meeting and the meeting after that, even the, the post-election meeting.

So a lot of that will come out on Friday.

[laughs]

... to set an alarm, and it's, it's very reliable for that.

But for ages I've been thinking, "What am I gonna use this for?" The data you're pointing to is amazing, though.

Alexa for Shopping, right? If...

There are shoppers on Prime who use Alexa more than 40% more per order-

Sure

... side of, of things, and I wanna talk a little bit about the, the company's chips business.

We got some data about annual revenue runway rates.

What do you wanna do with this show, Tom?

Well, what we wanna do with it, that wraps into what you're doing at Ludlow, is go downstream from the fancy people you talk to out in the West Coast.

I talked today to a gentleman about a company in Bismarck, North Dakota, which is directly prosperous from everything that's going on with Bloomberg, uh, Technology.

There's a huge follow-on effect that Jeff Rosenberg was talking about, and it goes into the general sense of personal finance.

We wanna lift up that conversation.

But it goes to this dream of retirement within an America with huge retirement instability, and most importantly, getting to the wealth management, being in the wealth management, and what do you do when you've finally made it?

... secondary market.

And the problem with a little bit of lineage is you learn that private markets means illiquidity somewhere down at the road.

Tom and Paul, your reaction this morning.

My reaction is to go to Mike McKee.

This is the reality.

The reality is you never know.

Mike, you're the only one that's old enough to remember this.

June 2nd, 1987, Paul Volcker, excuse me, nominates Greenspan to succeed Paul Volcker.

And we're like, does he play clarinet? Do we know when these people are

Now, I guess we wonder, you know, how dovish is Kevin Warsh going to be once he comes in?