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Single best Idea After three days out to Phoenix and back, a major thank you to the CFA Society of Phoenix packed room at the Omni here for a great panel. Jeff Sherman from Double Line, Bob Elliott was there with some real fire about gold and Cameron Ausin of New Edge Health. It was just a fabulous and timely panel given the war. I'll get to that in a minute. With Wayne Sanders, John writing in today absolutely definitive on
monetary policy, his service to his United Kingdom. Yes, we did some soccer talk in Tottenham and could Tottenham be relegated down to the league below the Premiere League? And of course also John writing with his service to America and the Federal Reserve system. Here Ghin writing on the case for higher rates.
I think there's a case for racing rates. If you look at the ISM reports that we had on Monday for manufacturing and yesterday for services, and you put them together, you have a clear, very strong up trend. You have an economy growing above potential. The administration itself says the economy is doing well so and inflation's above the fetch target and we still have the tariff feedthrough to fully work through, and the oil price shop of an unknown magnitude.
I think there is no economic case, none whatsoever for cutting rates.
One of our great voices, John writing, of course a definitive at bear Stearns, and now it bring capital. We'll have on much more in two thousand and twenty six. One of the great joys of Bloomberg LP. The terminal business is the acquisition of talent that we have. I often mentioned in quantitative finance, the giant Bruno de Peer holding court at Bloomberg. We do the same thing with the military. Wayne Sanders, the former colonel, is absolutely definitive
out of West Point and information systems engineering. He's truly encyclopedic on this shift in modern warfare. Here Wayne Sanders, on an air battle versus boots on the ground.
There's actually case studies on both sides. You know, people bring up you know, Libya versus Iraq in terms of you know, limited success from there. I think really it does come down to the Iranian people. It comes down to the other instruments of national power, diplomatic, information, military and economic and being able to put those pieces on there. If the military piece can only be done through air power, and you're not going to be put boots on the ground.
You really have to rely on those other mechanisms to carry the weight.
Wayne Sanders, there of Bloomberg, will have a much more on our national defense. He is with Bloomberg Intelligence. I'm podcasts out there on Apple, on Spotify, on YouTube to podcast its single best idea MHM.