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Let's talk about the economy.

Marcus Limonis, member of him and the profit, unbelievably successful businessman, camping world

CEO and host of the fixer.

Marcus, welcome back.

It's been seven minutes.

Good morning, Brian.

It's been seven minutes, but I have to tell you, after reading this jobs report, I don't know how much more frustrated people can be right now, to be honest with you.

So we're talking about 73,000 instead of 105,000?

Well, it's 73,000 today, but if we look back over the last couple of months, that number came, you know, roaring down.

And as I said to you a few minutes ago, you have to wonder, doesn't the Fed get a preview to these types of data points? This is a really important data point. I think are they waiting for a bunch of people to get fired? Or are they waiting for companies to say, we're not doing anything until we see some sort of relief somewhere? That's what's frustrating to me. You know, it bothers me. you're going to make the numbers. You're an economist. You're a Fed chair. I just hope it's not personal. I hope it's not saying I can't be perceived to be giving into pressure from the White House. So I'm not going to do it because they had two officers say, I don't agree with leaving things unchanged. Well, I think there's a balance, right? I think there is a balance of necessity for independence. And I don't think anybody disagrees with that on both sides of the house. I think the real challenge is that when you talk to business leaders that are really driving the economy, that are hiring people, that are borrowing money, that are spending money on CAPX, they will all tell you that they're in a wait-and-see mode. And the wait-and-sie mode isn't about tariffs. We understand generally what that tariff scope is. We just heard Jamie Diamond talk about it. And so for most businesses, it's going to be slightly impactful, and the absorption will happen. The benefit of interest rates being lower is that it frees up cash flow for a lot of companies, gives them the comfort that they can spend some money on hiring people, on growing. People aren't doing any of that right now. So that you're not doing it. You're not letting people go and you're not hiring them, right? I'm in this really weird zone. And so I look at the businesses that I have.

I just, you know, we have bed bath and beyond. We opened our first store yesterday and we're hiring people.

I look at my camping world business. My numbers are off the charts. But I'm in this really frozen

zone where because interest rates affect my P&L so much without that relief, I'm scared to buy stores, open stores, or hire people.

And that's a big problem when you're 30% of the market. And you're revitalizing Bedbath Beyond, right?

We are. So I took over overstock. Many people may know of overstock years ago. It's a company

that has both a dot-com business and a blockchain business. And we bought bedbath and beyond out of bankruptcy and we're bringing

it back. We could be bringing it back oddly at the best possible time because I thought that

the trough was behind us. What the Fed's doing is actually elongating that trough. And that's what's

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