This is a CBSI on the world. I'm John Bachelor. The American Economy from the point of view of Lancaster, Pennsylvania.

I welcome Jim McTague, former Washington editor for Barons for many years, now a novelist who is going

to introduce us to the world of the markets and then we're going for a ride in his Tesla, surprisingly, with his robot.

Jim, a very good evening to you.

The markets are rising, then selling, rising then selling.

That used to be called churning. The reasons changed day to day, but it would

appear that the markets, especially the Mag 7 or is it now the Mag 4, don't want to go anywhere. Is it the Federal Reserve? Is it the

war in Eurasia? Is it just because? What do you tell clients when you were a broker? What

did you tell clients when you're going sideways?

Good evening to you, Jim.

Good evening, John.

Yeah, I would tell clients to, um, don't read the newspapers.

It's the newspapers. It's the possible wider conflict in the Middle East with Iran and Israel and the possible impacts on our fuel supply.

It's the feds and the possibility I think there's a

having been a Paul Volker era survivor that older investors like me are anticipating that the Fed governors might shortly be talking about higher interest rates as opposed to whether or not they're going to cut rates this year.

So I think that fear has entered the market.

And I think the younger Robin Hood type investors

are getting burned because they were too bullish. I think a lot of them are trying to take some chips off the table.

The Federal Reserve has done nothing neither negative nor positive in these last weeks. I did hear a rumor that's

all you get that the June cut is out leaving July, August, and September. We'll return to that in just a moment because we're going for a ride,

perhaps to Costco, perhaps just around the corner, with Jim and his Tesla. I have heard much

about Tesla, and I read this week on a Twitter formerly it's called

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