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Single best idea and we're going to hear from Single Best Idea,

Idea, and we're going to hear from Dr. Pieza with a huge call in economics,

and from Todd Jablonski out with a cracken in Seattle.

But we actually came up with single best idea today. We had

on Gerard Cassidy from RBC Capital Markets and he and I have a tradition going

back decades. We were talking J.P. Morgan Citigroup and all that.

And then at the end of the interview, I always say, Gerard, small cap, small stock, single best idea, buy old sell.

And that's jargon for Global Wall Street about when you're with an analyst

what is their single best idea? It's always a buy. I mean they're not going to say sell this that's not the way the DNA goes but

his was Puerto Rico I was stunned Gerard Cassidy's saying guess what Puerto Rico's recovered lots of federal federal aid, and his single best idea was

Benko Popular. So there you are with how he came up with the title. The single best idea

today was to take notes with Lindsay Piaga of Stiefel and halfway through the

interview she floored Paul Sweeney and me with a statement on the Fed raising

rates. Right now the Fed is backing itself into the corner the Fed should have

risen rates that should have raised rates higher now that they see inflation

reversing course for three consecutive months since the start of the year they They need to re-engage, raise rates to a

sufficiently restrictive level to get price pressures under control, and we can

start to talk about a sustainable recovery. The longer they slow play this, the more

price pressures become entrenched into the economy and the more difficult it's going

to be to ever get us back to that 2% target. I don't necessarily think a recession is necessary to get price

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