All right, so inflation has cooled a little bit, but rates have gone up.

And we're going to talk about what that means for marketing, but Neil, you're better with remembering

numbers.

Do you remember what the recent numbers are?

This is recording as of July 30th by the way.

It was around 4% the last time I checked CNBC.

4.1%, right?

A foreign change, I think.

I don't know what the exact number was.

And then rates are the

since 2021 the rates at 5.25% now correct it's usually a range so it's like I don't

know what the exact rate is but it would be like 5.25 to 5.

Or the Fed funds rate I mean.

Yeah the feds fundraise is typically a range.

So it would be I don't know what the rate is but if it was 5.25 it would be, I don't know what the rate is, but if it was 5.25, it would be somewhere around like 5.25 to 5.5.

Okay. So for those of you that don't really follow this stuff, I mean we want to bring this up because all

interest rates affect the entire economy which affect marketing at the end of the day

and we kind of gave our predictions maybe I don't know tenish episodes ago or. I still think it's a 50-50 chance of recession,

but we're not here to predict the economy.

We're more so here to talk about what this means for marketing.

My take on this is that I think at least for the next quarter or two at minimum people are still going to be a little,

call it a little gun shy when it comes to marketing advertising in general.

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