I know it's been a while, but what do you say we play a round of what is Jay Powell thinking?

From American Public Media, this is Marketplace.

In Los Angeles, I'm Kyle Rizdahl. It is Tuesday, today's 6 May. Good as always to have you along, everybody.

One front runs the Federal Reserve at one's peril. But I'm going to go out on a limb here and say that what we're going to hear from Chair Powell tomorrow is going to be some version of we're okay with our policy response right now.

No, the president can't fire me.

And we need to see more data.

Not boring exactly.

Predictable, though.

But come on.

You know they are saying things behind closed doors that are more interesting.

So we've gotten Bloomberg's

David Gurra on the phone to spitball a little bit. Hey, David. Hey, Kai. So what do you think? I'm right.

It's going to be predictable tomorrow. Yes, everyone with whom I've spoken says this is going to be

an incredibly boring meeting in the context of Fed Reserve meetings, which the bar, the bar is low there. But you're getting at something crucial here, and that is we have seen over the course of the last few months, a Fed chair who has gotten increasingly irritated, I think, with the comments from the president, suggestions that he could if he wanted to remove the Fed chair from that position.

So that's all simmering beneath the surface. No doubt he'll be asked questions

from reporters about the tenuousness of his position as Fed chair. But as you've indicated, I think

his responses are going to be kind of in line with what we've heard before. In that meeting that

they're having today and tomorrow in the Federal Reserve building there on Constitution Avenue.

They are surely saying, God, tariffs, what are we going to do about this? Yes? I mean, he won't

actually say tomorrow, we're really worried about it, but they got to be worried about it.

Just like, as is the situation in every economic shop on Wall Street across this country,

there is so much uncertainty about what's

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