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Here's the number one best idea, and I'll be straightforward about it. I did not know this three hours ago, five days ago. Wednesday's jobs report is a big deal. I did not know that until Claudia Sam to talk to us today. There was no jobs report today because of this brief government shutdown. We only get it three or four days later, which in the scope of things is not a big deal. This is not like the
previous shutdown. But doctor some made very clear that we're going to see revisions and maybe a real adjustment to what a normal non farm payrolls rate is. To review. One hundred and fifty thousand used to be normal. We brought that down because of immigration and such, under one hundred thousand. But are we going to revive herself down to where twenty five thousand job growth is normal? All
of a sudden, I'm focused on Wednesday. Claudia Som has written up a storm on our FED chairman nominee from New Century Advisors. Claudia Som on doctor Worsh.
Kevin Worsh may need to start with an apology. He's been pretty tough on the staff and on current FED officials. You know, it's maybe the campaign to get the job. And I am wholeheartedly agree the FED can always do better and has made mistakes in the past, and there's ways to change the institution. But he said some pretty fiery stuff about people whose help he's going to need very soon, and I suspect he'll come in and be like, hey,
you know, we were colleagues ones, we're colleagues again. Let's get to it, and I think the page will turn and off we go if some of his campaign promises of you know, breaking heads and laying off a bunch of people, If that happens, I think you'll have a pretty tough first six months.
Claudia Summer and Kevin Walsh, I misspoke. I said doctor Worsh And of course that's part of the tension when you have Powell or Worsh who are not PhD economists, and then you give them butchersed up against people like doctor Some who are PhD economists, of which there are many at the FED. It was a real joy today to get the different opinions on the FED, and one of them was the gentle lady from Texas, Daniel de
Martino Booth joined us. She had all her work with President Fisher at Texas years ago, her academics within the University of Texas system. Daniel di Martino Booth here on the Doves and the future Hawks.
We have seen a much more hawkish tilt come out of the Central Bank District presidents. Lori Logan Bloomberg did a great feature on her recently. She's kind of got her own market's desk that I started in Dallas. She keeps that up and running and she has some very definitive ideas about the balance sheet. I think she would be a the same mind as a future Chareash. We need to shrink that balance right. I think that most Testice presidents would concur with that. The trick will be execution.
Tom Daniel di Martino Booth there on the path forward for a FED and again a critical jobs report coming up Wednesday with revisions on a podcast run Spotify. We say good morning to all of you out in the Pacific room where Spotify is very popular, on Apple Music and of course on YouTube. Podcast It's single best idea