Requests read on US economy given solid data, strong labor market, and inflation on right path.
Scarlet
Rich
US economy is in a good place, remarkably resilient with 2025 growth north of 2%, inflation flat despite tariffs, strong tech capital spending, and fiscal impulse from legislation.
Notes disconnect between positive headline indicators and downbeat anecdotal commentary from airlines, PNG, 3M about uncertainty and low consumer confidence.
Scarlet
Rich
Both narratives can be true - positive impulse from tech sector and wealth effect for stock/home owners versus more uneven story outside those sectors with uncertainty.
Turns to Federal Reserve chair selection, references Trump finishing interviews and plays clip from Rebecca Humpkins discussing leadership styles.
Scarlet
Rich
Analyzes remaining Fed chair candidates: Waller (world-class macroeconomist), Warsh (thoughtful on Fed institution/balance sheet), Reer (respected investor with bond market connectivity).
Asks about Lisa Cook Supreme Court case and whether she'll remain through first half of year.
Scarlet
Rich
High likelihood Lisa Cook continues in role, as justices skeptical of White House argument for removal, likely narrow ruling.
Asks about confidence in Federal Reserve independence given current environment.
Scarlet
Rich
Confident in Fed independence as intended by Congress, supported by financial markets that would punish loss of inflation credibility.
Asks how Powell will address DOJ subpoenas in post-decision Q&A.
Scarlet
Rich
Expects Powell to have crisp answer similar to previous video statement and try to move on quickly.