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Single best idea on an odd Monday, torrential rains here in New York and for all of you, particularly to the southwest of US, we're thinking of you. Really brutal weather out there, but we say good morning on an eventful week. The FED meeting on Wednesday, the FED deicides will be at one thirty looking forward to that. Have no idea how important this meeting is. They do the dots and all that, but given the geopolitics, the political economy, the economic politics of the moment, I have no clue
what's in store this week. What I know is Julia Cornado is very, very good at macro policy perspectives. Here's Julia Cornado framing out that FED meeting.
A rate cut isn't going to be the antidote to all the worries that investors and businesses have right now. There is a tremendous number of sources of uncertainty right now. Trade policy is one of them, Immigration is another, Cuts and cuts and government contracts is another. Reshaping global alliances is another. So I think there's just many sources of uncertainty. They collide with each other. It's very difficult for businesses
to make longer term plans. Of course, everybody, we all get up in the morning and go to work and run our businesses and do our jobs. But are you going to make the bigger decisions about hiring, about cap x, about moving forward with strategic initiatives in this environment? It's difficult. It's challenging. So Noah, rate cut isn't the antidote to the uncertainty that we face.
Julian card out macropolicy perspectives. We're going to get a lot of different opinions here on what the FED should do, but I'm much more interested in the weight the importance of the FED right now given the massive policy shocks that we see not only here but early around the world. Eric Belchunas was into day riveting always we bust as chops and there's like, you know, there's a comedy to it. But he is the heavyweight on thinking about these new
fangled things exchange traded funds. Here is Eric Belchunas on the dominant low cost vanguard and the idea their effect on the economy. The vanguard put I.
Would call it the vanguard BID. I also think that the reason it's immovable is people, especially older people with a lot of money. They they dated active managers in the eighties and nineties and they have found some luck, and then the ad manager underperformed. When they finally found a Vanguard index fund or a black Rock index fund, they were like, I'm done, I'm off the market. I'm
getting married. And they're happily. They feel like they have the best deal in their personal account and there's just nothing that's going to get them to come out of that. Now, let's talk about maybe a two thousands where you have the market's flat over a decade. Anything's possible. But until we see you know, I'm talking a year, I just don't think the Vanguard put is it's immovable, at least for a year. Beyond that, we'll see. But that's why we're only in a couple months. That's why I really
try to take the other direction here. And the thing is spy taking in money also shows the trading crowd buying the dip. So that's why, you know, I haven't seen anything that ties with the headlines tightly yet. I think it's algos and rage selling.
Eric belchunas there. I think I was filling out my bracket when he was talking about that, and you know it's like you're dating and then you get married. I guess that's, you know, a good investment analogy over the span of decades that we could use as well on your commute across the nation, Apple Car Play, Android Auto, Good Morning Night ninety nine point one in Washington, Bloomberg eleventh three to zero in New York, Good Morning ninety
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