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Speaker 1: Two things for me that came out of the Reserve

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Speaker 1: Bank commetary the press conference post the announcement should be

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Speaker 1: a must watch for us, all the insights invaluable. On

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Speaker 1: one hand, the genius three who turn up Karen, Paul

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Speaker 1: and Christian tell us what they've done will flow through.

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Speaker 1: In other words, don't panic, it will flow through. I'll

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Speaker 1: come back to that. But then they tell you they

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Speaker 1: got it wrong in Q two there was less than

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Speaker 1: no growth in the second quarter. They didn't see it,

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Speaker 1: so bullish and their talents on one hand, hopelessly wanting.

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Speaker 1: On the other, the vote, by the way, was four

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Speaker 1: to two. That's never happened before. Two votes wanted fifty.

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Speaker 1: I want to know who they are because they would

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Speaker 1: appear to actually get it. What the confession of no

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Speaker 1: growth in Q two tells you is if they had

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Speaker 1: seen it, could they have done more. Don't answer that

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Speaker 1: because the answer is yes, yes, yes, yes, yes, yes,

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Speaker 1: and yes now because they botched it, they're going most

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Speaker 1: likely down to two point five percent now for the cashwrak.

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Speaker 1: The other interesting thing for me is I'm a big

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Speaker 1: believer in psychology. The economy is about much more than

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Speaker 1: stats and data. It's about mood, it's the vibe. It's marbo.

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Speaker 1: They talked of the cautious nature of our behavior. I

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Speaker 1: would ask you they are part of the problem. They

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Speaker 1: look cautious, they look circumspect. They look like wonks who

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Speaker 1: don't get out a lot. Certainly don't get out into

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Speaker 1: the real world where the majority of us have been

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Speaker 1: seeing the records of our economy for most of the year.

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Speaker 1: They don't vibe it. They don't sell it. Which is

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Speaker 1: not to say they should be show ponies, But my word,

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Speaker 1: what a boring bunch they are with spreadsheets for friends.

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Speaker 1: This economy needs a cheerleader. It needs a significant impact

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Speaker 1: of influential and loud voice for its merits. Hawksby Silk

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Speaker 1: and Conway are not it. It should have been fifty.

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Speaker 1: It should have been fifty before yesterday. Because it wasn't.

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Speaker 1: The economy stalled and they didn't see it coming. Basically,

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Speaker 1: I mean, if you can't see that, how does that

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Speaker 1: incite confidence? For goodness sake? So at least two more cuts?

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Speaker 1: But why are we waiting? They will argue, because the

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Speaker 1: two hundred and fifty points will flow through, will they really?

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Speaker 1: We'll let the record show to this point, we're more

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Speaker 1: right than they are. For more from the Mic Asking Breakfast,

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Speaker 1: listen live to news talks it'd be from six am weekdays,

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Speaker 1: or follow the podcast on iHeartRadio