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Single best idea, and we're going to hear from Doctor Pigs with a huge quality Economics, and from Todd Jablonski out with a Kraken in Seattle. But we actually came up with single best idea today. We had on Gerard Cassidy from RBC Capital Markets and he and I have
a tradition going back decades. We're talking JP Morgan City Group and all that, and then at the end of the interview, I always say Gerard small cap, small stock, single best idea by Old Cell, and that's jargon for Global Wall Street about when you're with an analyst, what is their single best idea, it's always a buye. I mean, they're not going to say sell this. That's not the
way the DNA goes. But his was Puerto Rico. I was stunned Gerard Cassidy's saying, guess that's what Puerto Rico's recovered lots of federal aid and his single best idea was Banco popular. So there you are with how we came up with the title the single best idea Today was to take notes with Lindsay Pieg of Stiefel and halfway through the interview, she floored Paul Sweeney and me with a statement on the FED raising rates.
Right now, the FED is backing itself into the corner. The FED should have risen rates, It should have raised rates higher now that they see inflation reversing course for three consecutive months since the start of the year, they need to re engage raise rates to a sufficiently restrictive level to get price pressures under control and we can
start to talk about a sustainable recovery. The longer they slow play this, the more price pressures become entrenched into the economy, and the more difficult it's going to be to ever get us back to that two percent target. I don't necessarily think our recession is necessary to get price stability, but I do think that a much slower growth rate would likely be the outcome, which is not necessarily again, is something that we need to avoid at all costs.
Lindsay pigs with Steifel and I really can't say enough. It's not an outlier call. There are people with great respect for the idea. What does the FED do when, of course the fallback is to say they're not going to cut rights, They're not going to raise rates. I mean, that could be one outcome, But how do you frame out the need to raise interest rates? I would suggest the zeitgeist, if you will, is completely unprepared for that.
That was absolutely fascinating one of our great joys. And of course this is the reach of Apple car play and YouTube and all of Bloomberg Radio and the different tune in is just one example. The reach of Bloomberg Radio is it is across the nation. I didn't believe this years ago when we started this, the idea that someone at three or four am in California would actually wake up to listen to this stuff.
I was like, yeah, right.
And then of course the international audience the Pacific Room in Asia in the evening was a big surprise when we were doing Bloomberg on the Economy, and so it's always great to have people in from the left coast in Seattle, which doesn't get enough attention culturally. Todd Jablonski
holds court out there with Principal Asset. He writes an incredibly smart short note, it's out on the principal asset Management's got a great cut on sixty forty investing right now and in factor investing, but just simply with Microsoft coming out the juggernaut at Seattle. We talked to him about Washington State.
I would say about half of the spouses of my coworkers in Seattle are employees of Microsoft, and I am stunned at the different array of businesses that that firm can get into. The cloud computing move I think was a brilliant strategic design, and I've been really impressed in everything from that to cloud computing. Like when it comes to these tech giants, I think that the resourcing advantage
they have in competition is enormous. That leads to the big getting bigger, and I think that we can continue to see this trend Gorow. That's part of the reason I'm overweight large cap stops in the US, and I can see these giants continue to become much larger.
Different views. I'm thinking a couple of days ago, Patrick Armstrong at Pleurimi and he's got the same outcome as Todd Jablonski from London to Seattle, but they sort of get there on different paths. Patrick armstronge of course looking at financials, technology margins, growth rates, and I think there was a spirit there to Todd Jablonski saying, look, this is about American exceptionalism, it is about innovation and overused word. Of course, we'll see that tomorrow. Today we've got meta
Facebook out. I'm sorry, it's not meta, it's Facebook. Get over it. It's Google, not alphabet. But the answer is we're going to get a lot of these really different stories, each different on radio. Look for Tim and Carroll in the afternoon. They'll have all that coverage on Apple car Play and on YouTube across all of Bloomberg as well. You get Apple out May second, May third, and then you really want to hear what Mark German has to say about it, and we'll get there in the first
week of May. We are on Apple car Play and on Android play. This is building each and every day. Just talk to Jumana Preteci, who will be driving our Dubai coverage, our Middle East coverage from Morocco to Persia. And Jumani made very clear that all of this digital stuff is an incredible international audience, particularly across Africa. Good morning and good day to all of you on the
African continent. And then on YouTube, you go in and you search Bloomberg podcasts and you look for you don't look for me, you look for Lisa Matteo, and we're all there in a white chick lit and you click on it and there we are. It's seven to ten that we do this Wall Street time so again on Apple, car play and YouTube. Two highlights from today. This is single best idea.
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