CC-Transcript

• 00:00I’m very proud to work with the people I work with. I can tell you that in times like this or times like the pandemic where the, you know, the global financial markets were shutting down, the global economy was shutting down, people step forward and they say, we’ve got this. These are these are career people who were here for the global financial crisis. They’ve got 25 years, 35 years of experience with crises. And they step forward and they it’s just incredible what they can do and how good they are. It’s a great honor to work with them. So right now, isn’t that situation. You know, we have a situation we have. So, you know, our trade people and our inflation people and our macro economists are all working hard to, you know, to kind of digest the news of this week and try to try to filter that into the forecast that they’ll make. And policymakers are doing very much the same thing. And we’re reading everything we can about what’s happening and lots of outside analysis, too. We don’t have an FOMC meeting until May six and seven. So that’s a that’s really a process that last several weeks. But we’re not quite at that stage yet, But we’re kind of thinking ahead to that and and and working through all of that. I will say, though, you know, it feels like we don’t need to be in a hurry. It feels like we have time to. Yes. Yes. It feels like we don’t know. I mean, it’s like I said, you have you have inflation is going to be moving up and growth is going to be slowing. But it isn’t really it to me, it’s it’s not clear at this time what the appropriate path for monetary policy will be. And we’re going to need to wait and see how this plays out before we can start to make those adjustments.