The Resilience of the Economy

The economy is showing very few signs of the recession that everybody thought we would have by mid-year back in January. So yes, the economy has been very strong. Will it stay that way as we move forward? This gets back to what I said before. We've raised rates 500 basis points. A lot of people are in the camp that that's going to hurt. And Jay Powell kind of intimated that in a conference too. It also matters as to what is important. Is it the inflation rate or is it the real economy?