- Hope the Fed catches up
- We will see if the Fed is neutral or accomodative
- Trump thinks the Fed is behind the curve
- Now going to start working on affordability
- Front end of the curve is inverted
- Expect we will see inflation starting to come down
- Long end is very well anchored
On Miran:
- Plan is for him to come back to CEA
On Bullard:
- He knows the Fed very well
- Had a good session
On Tariffs:
- Confident Supreme Court will back administration
- Lots of other authorities we can use
- Tariffs will help us pay down the debt
On China:
- Talks were done with great respect, very fulsome
- China had long list of asks
- Trump made it clear he was willing to let it go dark (TikTok)
- Expressed disappointment on Nvidia to China
- Anticipate we have a deal
- Anticipate final deal after Trump, Xi talk on Friday
- Talks are becoming more productive
- The Chinese sense a deal is possible
- The next meeting with China is in Frankfurt
