00:00possible. Let's leave tariffs to the side for now. We've spoke about it enough and I'm sure we're
00:04going to be talking about it more this week. Let's talk very quickly about Fed dissent. We have a
00:09Federal Reserve meeting this week. They're going to keep interest rates on hold. All markets suggest
00:14that. Futures markets suggest that. Betting markets suggest that. Interest rates swaps suggest that.
00:21Everything more or less suggests that. But we have Chris Waller who is essentially auditioning to be
00:28the next Fed chair who is very likely to dissent this week and go against Powell and say that
00:34interest rates should be cut this month. Now he is doing this whether or not he actually believes it
00:40because he knows that in upcoming May when the next Fed chair is picked Trump is only going to pick an
00:47uber dove. He wants to position himself as the biggest dove on the current Fed board so that he
00:54can be in the middle of having some institutional credibility as a current member of the Federal
01:00Reserve versus someone like a Kevin Warsh while at the same time posing as this uber dove that will do
01:06Donald Trump's bidding for him. So I think you can expect some dissents at this Fed meeting. It is not
01:13significant. The policy is going to stay the same but it is symbolic and it shows you again where the
01:21overall trend of monetary policy in the United States is going. This is not a Democrat or a
01:27Republican thing. Both parties in my opinion are guilty of this but over time you are getting
01:35Fed members and possibly even Fed chairs that are very partisan that are there to do what the
01:43president at the time wanted them to do and you're ultimately going to pay for it as we've said in
01:50questions.
01:52A receipt of the movie reports and the investors'
