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Single best Idea and it was just a wonderful day. We could do like a three hour single best idea. We just wonderful guests given the exceptional news for a major shout out to our Tea Live service. It's on the Bloomberg terminal and it's a team of five, six, eight of our senior editors basically from Dublin through London, down through Europe into the Middle East, moving all the different dialogue and really with an advantage of translation as
well of what we're getting out of Iran. Just thank you to them for driving all of our news flow forward today. With Michael Barr and Monica Rix as well. Richard Clareda came by the former vice chairman of the FED. Great conversation on his Columbia University. I asked him about all of the different FED officials and how unique Governor Myron is here is Richard Clareda.
Models are tools, but they're backward looking, and in particular, I think oftentimes the argument that Governor Myron has made is he has a personal individual belief that the neutral interest rate in the US is well below the current level and well below where the committee believes. You know, he could be right, but I don't think that is the view on the committee, So I think he'll continue to be a minority view on that.
Years and years of practice. There a delicate answer, nicely said from Richard Clarita of his colleague and economic Stephen Myron, a governor of the Federal Reserve System at this time, Friend Sua Trehan with the Bank of Montreal BEIMO Capital Markets. Friend Suatrehan on the moment at hand and risk.
People say, all right, we can't have non inflationary growth because we don't have excess capacity. Why can't AI play that role with productivity? And that sounds logical when you think about it, when you dig into the data, you realize that it's not feasible in twenty twenty six and so. And the reason for this is that AI is really for now a phenomenon of the very large companies. Small business America has not really embraced it. And small business
America creates three quarters of jobs in the US. And so, until you know this is adopted broadly, I don't think we're going to see the employment phenomenon that a lot of people are looking for.
Beautifully frames the risk of AI in this twenty twenty six and the total mystery or where We'll be out there somewhere Friends Hotan, BMO Capital Markets on our podcast run Apple, on Spotify, particularly Good Morning to the Pacific RIM, which we hear does well of Spotify and on YouTube podcasts. A single best idea m HM