Probably relatively better showing than the game vs Palmeiras. Brazilians should outnumber US-based PSG fans.

Hey Patrick. Appreciate all your commentary. Just wanted to add that ‘prices paid’ is not part of the calculation of the headline number.

Mostly due to seasonality imo. The nsa data is tracking very closely the 2019 path (similar calendar year to 2024). Don’t think we should be concerned.

High Fed funds rate is transitory

The Chastening!

Oh no. I had no idea he passed away! RIP.

Paul Blustein’s book on the 2001 crisis is also a very good read :)

This consistent with the September dot plot. The two more hawkish Fed officials (likely Schmid himself and Bowman) see the terminal rate at just below 4%.

In line with CPI seasonality!

Julia, you should convince Laura of joining as well! Love your and her takes. Hope all’s good.