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s-t-o-e-l.com. On the program today, a theory about this week in this economy. We'll talk live music in small clubs.

And hey, is that a Wilson's warbler I see up in that tree?

From American public media, this is Marketplace.

In Los Angeles, I'm Kyle Rizzell.

It is Friday, today the 22nd of May.

It is always to have you along, everybody.

I'm just going to say this.

And then we'll see what Courtney Brown, she's at Axios and David Gurrey, he's at Bloomberg.

We will see what they have to say about it.

I think this was a deceptively significant week in this economy. We'll see what they say. Welcome to the program,

you two on a Friday. Hello. Hey, Kai. Hi, Kai. All right, Courtney Brown, you get to go first.

Here's my theory. The 30-year tops 5%. People get really worried about that. Fed minutes

come out the other day. They show a clear signs that an interest rate hike might be next. Forget a cut. Forget holding. They're thinking about hiking. Chris Waller gives a speech. Fed governor gives a speech today to the title of which is, policy risks have changed.

And oh, by the way, Kevin Warsh takes over today at the Fed.

Discuss.

My theory, please.

Yeah, it's like almost everything that happened this week in macro world pointed to this idea

that rate cuts, which, you know, Kevin Warsh is under pressure to deliver.

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