This is current yield.

Grant's Infrastrate Observer of the Air.

This Jim Grant.

And with me, as always, is Evan Lorenz, the great deputy editor of grants.

And Henry French at the control panel.

And with us today is John Haskell

about whom you'll be hearing a lot presently. Now I want to complain about two things. One my

voice which is I've got a little thing in my throat. And the second item for complaint

is have you ever tried to get a day quill tablet

out of a day quill packaging? You know, blasting cap, right? What is this? I mean, you don't feel

that great anyway when you go to retrieve a day quill tablet. And yet, a knife, night quill is even

worse. After like a beer, you can't, it's impossible. So I just want to get that

out there. That's the financial substance of this. No, it's not. This is just a control thing.

Well, Evan, as we talk, as I am vaporing, Jerome Powell is testifying before the House of Representatives.

What do you think?

In as much as we sometimes criticize the Fed,

I kind of feel bad for him going up in front of Congress

and getting grilled by people who have no sense of economics,

interest rates, or anything else,

but have strong opinions on all those topics.

Well, I mean, he brought this on.

You know, somebody made a wonderful observation about the Fed and its capacity for prophecy and

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