Welcome to today's edition of the Clay Travis and Bucks Xton Show Podcast.

Third hour of Clay and Bucks starts now. Welcome everybody. Thank you for being here with us.

And we've got breaking news for you right off the top. The Fed has raised interest rate.

This is something that might come as a surprise to some. It seemed that there was a pushback

against this because of the banking issues. But the headlines here are Fed raises rates

amid banking turmoil by a quarter point. So it's trying to figure out how to balance the

inflation fight with the, well, weakness in the bank is structural weakness within the banking

industry, which is all tied to Fed policy and what they've been doing now stretching back for

over a decade. You know, Clay, there's a lot. First of all, I would just note that even

earlier today, former Goldman Sachs CEO Lloyd Blankfine was saying the Fed should not raise

rates. Listen to this. Personally, I wouldn't do it. The de-leveraging effect of all this, the

less lending, the more conservatism, the accumulation by financial institutions of capital,

that's highly deflationary. There's going to be less lending. The effect of all that is, at

least, is great, probably greater than a 50 basis point raised at this point. If I were the Fed,

I would pause. And I'd say, you know, we're doing that because financial conditions have been

substantially tightened by this. Two weeks ago, we didn't contemplate the events that we're

witnessing now. This is a new factor. It's highly deflationary and de-leveraging. This is more than a

raise. Let's pause and look at how this works its way through the system, but we're going to be

ever vigilant. Yada, Yada. Yada. Yada, Yada. Okay. I'll let you go through that. He's like,

yeah, you know, the Fed say a bunch of nonsense about it. It'll all be fine. This is the former

Goldman Sachs CEO guys worth hundreds of millions of dollars. Maybe more than that now. But, you know,

Clay, he's talking about being deflation. Okay. So he's worried about a Fed raise, which has just

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