Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about Trump

and inflation worries. This week, there were a number of economists and people involved with the

Federal Reserve who have started talking about inflation again. It prompted a number of questions,

like this. Bell, every economist has said we stuck the soft landing,

but this week we've had three different people with the Federal Reserve

start talking about inflation again and slower cuts to interest rates.

My friends who trade stocks are saying that it's because they're worried about

Trump. But I've always heard, president's economic policies take years to show themselves.

Please help me understand this. Okay, so that normally is the case. It normally takes time

for presidential economic policies to show

themselves. Normally about two years, but it varies. But the people at the Federal Reserve and the other

economists you're talking about aren't supposed to be reactive. They're supposed to be proactive.

They're supposed to be looking ahead. First, it's

important to say for fairness that inflation got down to 2.4%. That's not 2.0%, which is their goal.

But to the question, they have to look ahead, and there's probably some significant concern that Trump

actually implements his economic campaign promises. Some of those would have immediate

inflationary effects, not effects two years from now. Some promises would have other effects. The

Fed likes to try to manage outside of inflation.

As an example, Trump promised all of those tariffs.

They cause prices to go up immediately.

Realistically, they might even cause inflation before they're enacted,

as companies begin to raise prices slowly to try to avoid having a massive

...