Hey, everybody, I'm Kyle Risdahl.

Welcome back to Make Me Smart.

Where we make today makes sense.

I'm Kimberly Adams.

Thank you for joining us on this Monday.

May the 5th.

We've got news and smiles on deck today, starting with the news.

Mr. Risdahl, what you got?

So mine is, I saw this on the

socials and it just, it crystallized really, well, it's not true. I already knew this was all true,

but it sort of validated, I suppose. Anyway, a survey out from the Dallas Fed, Federal Reserve Bank

of Dallas, a bunch of economists doing lots of good research there, And they put a survey out about what firms are doing in response to higher tariffs.

And the number one going away thing that firms are doing, manufacturing in particular but also services sector firms, the number one thing they're doing, anyone, anyone?

Kimberly Adams, anyone?

Let me guess, raising prices. Yes, passing cost increases through to consumers. That is the number

one answer. Now, the very bottom, I know, right? The very bottom of the chart, though,

and this is the really interesting thing, and oh my God, I can't believe we still have to keep on doing this.

The bottom answer, relocating production or services to the United States.

And that's the whole rationale for the president of the United States driving the economy into the ditch is we're going to get everybody to come back here, revitalize American manufacturing and create jobs.

And in the Dallas Fed survey, ain't nobody doing that.

That's not true.

3% of services companies and 11% of manufacturing companies.

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