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So here we are. We're going to talk about the interest rates, George, the Fed, right? Jerome Powell.

I've been mean about Jerome before. I have criticized Jerome in the past. And I don't want to

criticize him today, but I want to point out that he is the chairman of the Fed.

The Federal Reserve.

So here's the deal.

Everybody's going, what is he going to do with interest rates?

What's he going to do with interest rates?

A lot of people predicting they passed on the last meeting.

They didn't do anything.

A lot of people predicting quarter three, quarter four.

And it affects the debt situation that people are barring.

So I'll throw it to you, George, the credit card.

When people are looking, they're hoping, okay, if he drops it, maybe I don't have to pay as much.

But guys like you and me, one of the

great positives of the Fed raising the rate is we save more money. That's true. When the Fed lowers

the rate, it makes borrowing money cheaper. When they raise the rate, it makes borrowing money more

expensive. Now, on the flip side, when you think about a savings account, we've also seen savings rates go up with borrowing rates go up. So if you are saving money, this is a great thing for you.

If you've got $10,000 in a savings account, that's growing at 5% instead of 2%, you're happy about that.

That's right. But if your car loan is now 8% instead of 5%, you're upset about it. And so for those trying to borrow money actively, this hurts them.

But guess what?

Consumers have been borrowing money anyways, Ken, because we've seen the consumer numbers go up for debt.

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