Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.

I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and

I'm going to explore the lessons we can learn when creativity and ambition collide

with competition and power.

Listen to Crash Course every Tuesday on the I Heart Radio app, Apple Podcasts,

or wherever you get your podcasts.

We finish drawing here Jeffrey Rosenberg

with this portfolio manager, Black Rock, systematic multi-stratgy fund.

He will be systematically reviewing everything after this historic meeting.

Jeff, you know, we're at gunpoint at Carnegie Mellon, you were required to read both volumes

of Alan Melzer and get out the 60s, the 70s, and fed meeting.

And what Dr. Melzer would say is it is at the end of the day about the real economy.

What did Jerome Powell today say about the American economy?

With a stunning statement, the dots in the Q&A.

Yeah, it was overall a validation of the transitory view.

And what was a little bit feared going into the press conference

was whether he would push back he got the softball from Nick Timeros on

financial conditions now be nice and And clearly you know chose not to hit it out of the park in terms of pushing back on on financial conditions and that was a green light to continue the initial reaction from what we got in the statement of

economic projections and the dots and the 75 basis points and the dots is

clearly the surprise. So you know this is a green light for investors I think Nick's

question and this question of financial conditions and Bill Dudley

mentioned it a minute ago this is the problem is that this can go on for a while and

...