Fed Interest Rates Decision & Jerome Powell Press Conference - LIVE Breaking News Coverage

[00:00:00] Speaker ?: Субтитры подогнал «Симон» Субтитры подогнал «Симон» Субтитры подогнал «Симон» Субтитры подогнал «Симон» Субтитры подогнал «Симон» [00:01:42] Steve Lookner: Good afternoon, everybody. It is Steve Lookner with Agenda Free TV. We are here to bring you live coverage of the Fed interest rates decision. They are going to be announced their decision on interest rates in 54 minutes and 55 seconds. It is widely anticipated that they will announce another quarter point rate cut. But there is also this question of what will they signal about the future, about rate cuts in the future, about next year. So we are going to bring you live coverage of this. We are going to be taking your comments on the year. And after they announce their decision, then Jerome Powell of the Fed will give a press conference. So we will have live coverage of the Jerome Powell press conference coming up for you. We will be showing you that as well. And we are going to be showing you that as well. And we are going to be taking your comments and questions on the year. Give me a shout at Lookner on X if you would like. I will be taking your comments from the chat rooms as well. And I also want to thank our moderators who are here. We have Janet B. and Beth Mythical. Thanks so much for being here. Leslie Lady Hawk over there on YouTube. Thank you so much. We have on Twitch moderating right now. Give me a moment. Matthew Kohai 3 and Surly Dev. Thanks. Linda Belk Lowry and Misha on X. Margaret Riley, Kay Lowry Body over on Facebook. Thanks so much for moderating there. Shannon Davis Hughes as well. You can see this headline right here from Reuters. Fed expected to lower rates but may signal a coming pause. The major betting markets I have looked at strongly think that there will be a quarter point rate cut. That seems to be the consensus. There could be no cut. There could be a bigger cut. But it is widely believed there will be a quarter point rate cut. But also, again, question about what they are going to signal for next year. Let's see what you guys think. Think. Let's see. I want to read. K-N-V-K-L says, "It's like the ancient oracle." So, Jerome Powell, he's going to be replaced. His term ends as the Fed chair. [00:04:29] Speaker ?: Is it May? [00:04:29] Steve Lookner: Yeah. May 15th of 2026. So, President Trump has been talking about replacing him for months now. But it doesn't look like he's going to try to attempt to replace him before his term ends as chair. May 15th, 2026. Let's see here. Maybe we'll do a poll and see what you guys think. Selvo Nave says, "I hope we get another quarter point cut. We need it." So, the Fed, I believe it's two main goals. Because I remember Jerome Powell talking about this last time. But two things it pursues are, they want to keep employment up. You know, they want people to get jobs. But they also don't want there to be too much inflation. So, those are the two main goals they have, as I understand it. High employment, low inflation. But there's this question now, what is the biggest risk? Is the biggest risk of inflation going up or unemployment going up, of the job market going down? So, in theory, lowering interest rates, in theory, will help the unemployment number, but also possibly make inflation go up. So, there might be people on the FOMC, the committee that decides on the rates, which is the Federal Open Market Committee. There might be people who say, "Whoa, whoa, whoa. We shouldn't lower the rate, because that could cause inflation." And right now, inflation is above the target of the Fed, which is 2%. It's above that. So, a big question today is also going to be, how much disagreement is there going to be on the 12-person Federal Open Market Committee? Also, I don't know, there might be other Fed members who actually weigh in as well. But usually, there's not much disagreement among the people voting. But it's thought that it's possible today we might get more disagreement than there's been in decades on one of these votes. So, that'll be interesting to see. So, we'll have to let you know about that. I'm going to give you some background here. Let me show you this here. "Fed expect it to lower rates, but may signal a coming pause." Our viewer, Lidio Bojka, said a half-point cut would be surprising. Jonathan Bushby says, "How can the Fed make a decision when President Trump is hiding all the data?" So, because of the shutdown, there wasn't a bunch of data that there would have been. That's another issue here, is the Fed trying to make this determination of what to do without all the data they would normally have. Let me show you this here. The U.S. Federal Reserve is expected to cut interest rates today as policymakers grapple with gaps in economic data caused by the recent government shutdown, which we were just talking about, and work through competing views about the risks facing the economy. The anticipated quarter percentage point cut may well come with a noncommittal or even hawkish approach to next year's rate path, given the division among policymakers between those skeptical about the need for more rate reductions in the face of still elevated inflation, and those who feel the economy and job market may weaken if the U.S. Central Bank doesn't bring down borrowing costs. So those are those tensions. Lower rates, in theory, helps the economy, helps the job market, but can lead to inflation. Higher rates can help control inflation, but can tame the economy, and maybe raise unemployment. So there are your tensions. And a big part of what people are looking for is not just do they lower the rate, because it's pretty widely assumed they will. What are they saying about their feeling on future rate cuts? New quarterly economic projections to be released alongside the latest rate decision. Ah, so they will have this for you. They will also be releasing their estimated economic projections for coming quarters, I believe. New quarterly economic projections to be released alongside the rate decision will show how Fed officials expect the economy to evolve next year along with what they see as the appropriate path of rates. New quarterly economic projections are expected to be released. [00:10:05] Speaker ?: New quarterly economic projections are expected to be released. New quarterly economic projections are expected to be released. [00:10:05] Steve Lookner: New quarterly economic projections are expected to be released. New quarterly economic projections are expected to be released. 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[00:13:05] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. 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New quarterly announcements are expected to be released. [00:16:19] Speaker ?: New quarterly announcements are expected to be released. [00:16:20] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:16:22] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:16:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. 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New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:16:57] Steve Lookner: New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:04] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:06] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:16] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:19] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:21] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:26] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:31] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:35] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:37] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:17:42] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. 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New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:18:15] Speaker ?: New quarterly announcements are expected to be released. [00:18:16] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:18:24] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:18:26] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. 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[00:19:02] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:19:05] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:19:14] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. 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[00:19:36] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:19:40] Speaker ?: New quarterly announcements are expected to be released. [00:19:41] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:19:49] Speaker ?: New quarterly announcements are expected to be released. [00:19:50] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:20:30] Speaker ?: New quarterly announcements are expected to be released. [00:20:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:20:55] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:11] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:15] Speaker ?: New quarterly announcements are expected to be released. [00:21:16] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:20] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:23] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:27] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:29] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:34] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:21:36] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:03] Speaker ?: New quarterly announcements are expected to be released. [00:22:04] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:16] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:20] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:26] Speaker ?: New quarterly announcements are expected to be released. [00:22:26] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:45] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:52] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:22:59] Speaker ?: New quarterly announcements are expected to be released. [00:23:00] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:23:21] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:23:24] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:23:26] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:23:56] Steve Lookner: New quarterly announcements are expected to be released. [00:23:57] Speaker ?: New quarterly announcements are expected to be released. [00:23:59] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:16] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:18] Steve Lookner: New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:27] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:32] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:36] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:47] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:24:49] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:00] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:04] Steve Lookner: New quarterly announcements are expected to be released. [00:25:05] Speaker ?: New quarterly announcements are expected to be released. [00:25:06] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:14] Speaker ?: New quarterly announcements are expected to be released. [00:25:15] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:19] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:21] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:26] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:33] Speaker ?: New quarterly announcements are expected to be released. [00:25:34] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:44] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:47] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:25:58] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:26:12] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:26:38] Speaker ?: New quarterly announcements are expected to be released. [00:26:39] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:26:41] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:26:43] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:26:56] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:27:02] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:27:18] Speaker ?: New quarterly announcements are expected to be released. [00:27:19] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:28:33] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:28:37] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:28:47] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:28:53] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:01] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:13] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:21] Speaker ?: New quarterly announcements are expected to be released. [00:29:22] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:36] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:42] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:45] Speaker ?: New quarterly announcements are expected to be released. [00:29:46] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:29:59] Speaker ?: New quarterly announcements are expected to be released. [00:29:59] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:31:20] Speaker ?: New quarterly announcements are expected to be released. [00:31:21] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:31:32] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:31:34] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:31:38] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:31:50] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:00] Speaker ?: New quarterly announcements are expected to be released. [00:32:01] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:09] Speaker ?: New quarterly announcements are expected to be released. [00:32:10] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:13] Speaker ?: New quarterly announcements are expected to be released. [00:32:14] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:34] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:37] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:52] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:32:54] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:23] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:38] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:40] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:49] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:53] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:33:57] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:34:29] Speaker ?: New quarterly announcements are expected to be released. [00:34:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:34:56] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:05] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:09] Speaker ?: New quarterly announcements are expected to be released. [00:35:10] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:13] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:28] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:35] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:48] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:35:59] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:36:02] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:36:07] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:36:14] Steve Lookner: New quarterly announcements are expected to be released. [00:36:15] Speaker ?: New quarterly announcements are expected to be released. [00:36:15] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:36:42] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:36:44] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:37:14] Speaker ?: New quarterly announcements are expected to be released. [00:37:15] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:37:29] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:37:42] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:38:16] Speaker ?: New quarterly announcements are expected to be released. [00:38:17] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:38:28] Speaker ?: New quarterly announcements are expected to be released. [00:38:29] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:38:55] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:38:59] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:39:20] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:39:27] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:39:46] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:39:48] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:39:57] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:00] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:12] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:17] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:44] Speaker ?: New quarterly announcements are expected to be released. [00:40:45] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:52] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:40:59] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:41:01] Speaker ?: New quarterly announcements are expected to be released. [00:41:01] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:41:09] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:41:14] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. [00:41:22] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:41:28] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. [00:43:03] Speaker ?: New quarterly announcements are expected to be released. [00:43:04] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:43:14] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:43:43] Steve Lookner: New quarterly announcements are expected to be released. [00:43:53] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:43:55] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:44:11] Speaker ?: New quarterly announcements are expected to be released. [00:44:12] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:44:49] Speaker ?: New quarterly announcements are expected to be released. [00:44:50] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:45:25] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:45:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:46:01] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:46:11] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:47:46] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:47:48] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:00] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:11] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:16] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:18] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:21] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:41] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:44] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:53] Speaker ?: New quarterly announcements are expected to be released. [00:48:54] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:48:57] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:04] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:17] Speaker ?: New quarterly announcements are expected to be released. [00:49:18] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:24] Speaker ?: New quarterly announcements are expected to be released. [00:49:25] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:30] Speaker ?: New quarterly announcements are expected to be released. [00:49:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:34] Speaker ?: New quarterly announcements are expected to be released. [00:49:35] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:47] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:50] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:56] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:49:59] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:50:59] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:51:01] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:51:11] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:51:17] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:51:29] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:51:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:01] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:06] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:20] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:24] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:28] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:52:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:21] Speaker ?: New quarterly announcements are expected to be released. [00:53:22] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:29] Speaker ?: New quarterly announcements are expected to be released. [00:53:30] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:32] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:38] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:47] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:53:51] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:17] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:21] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:23] Speaker ?: New quarterly announcements are expected to be released. [00:54:24] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:29] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:34] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:47] Speaker ?: New quarterly announcements are expected to be released. [00:54:48] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:51] Speaker ?: New quarterly announcements are expected to be released. [00:54:52] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:54:54] Speaker ?: New quarterly announcements are expected to be released. [00:54:55] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:11] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:13] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:29] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:31] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:33] Speaker ?: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. [00:55:35] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released to be released. New quarterly announcements are expected to be released. [00:56:07] Speaker ?: New quarterly announcements are expected to be released. [00:56:08] Steve Lookner: New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:56:17] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:56:20] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:01] Speaker ?: New quarterly announcements are expected to be released on. [00:57:02] Steve Lookner: New quarterly announcements are expected to be released on. [00:57:04] Speaker ?: New quarterly announcements are expected to be released on. [00:57:05] Steve Lookner: New quarterly announcements are expected to be released on. [00:57:06] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:08] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:31] Speaker ?: New quarterly announcements are expected to be released on. [00:57:32] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:47] Speaker ?: New quarterly announcements are expected to be released on. [00:57:48] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:51] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:57:58] Steve Lookner: New quarterly announcements are expected to be released on. [00:57:59] Speaker ?: New quarterly announcements are expected to be released on. [00:58:00] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:02] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:05] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:26] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:30] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:32] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:34] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:41] Speaker ?: New quarterly announcements are expected to be released on. [00:58:42] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [00:58:45] Speaker ?: New quarterly announcements are expected to be released on. [00:58:46] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:00:20] Speaker ?: New quarterly announcements are expected to be released on. [01:00:22] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:00:42] Speaker ?: New quarterly announcements are expected to be released on. [01:00:43] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:01:36] Speaker ?: New quarterly announcements are expected to be released on. [01:01:37] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:01:52] Speaker ?: New quarterly announcements are expected to be released on. [01:01:53] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:02:06] Speaker ?: New quarterly announcements are expected to be released on. [01:02:07] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:02:32] Speaker ?: New quarterly announcements are expected to be released on. [01:02:33] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:02:40] Speaker ?: New quarterly announcements are expected to be released on. [01:02:41] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:03:43] Speaker ?: New quarterly announcements are expected to be released on. [01:03:44] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:03:52] Speaker ?: New quarterly announcements are expected to be released on. [01:03:52] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:07] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:09] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:22] Speaker ?: New quarterly announcements are expected to be released on. [01:05:23] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:27] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:29] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:41] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:05:43] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:06:27] Speaker ?: New quarterly announcements are expected to be released on. [01:06:28] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:06:30] Speaker ?: New quarterly announcements are expected to be released on. [01:06:31] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:06:33] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:06:38] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:06:58] Speaker ?: New quarterly announcements are expected to be released on. [01:06:59] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:05] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:10] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:20] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:22] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:24] Speaker ?: New quarterly announcements are expected to be released on. [01:07:25] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:33] Speaker ?: New quarterly announcements are expected to be released on. [01:07:34] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:38] Speaker ?: New quarterly announcements are expected to be released on. [01:07:39] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:41] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:07:43] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:08:01] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:08:05] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:08:33] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:08:35] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:08:57] Speaker ?: New quarterly announcements are expected to be released on. [01:08:58] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:09:19] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:09:24] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:09:35] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:09:39] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:09:47] Speaker ?: New quarterly announcements are expected to be released on. [01:09:48] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:11:03] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:11:06] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:11:22] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:11:24] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:00] Speaker ?: New quarterly announcements are expected to be released on. [01:12:01] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:08] Speaker ?: New quarterly announcements are expected to be released on. [01:12:09] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:25] Speaker ?: New quarterly announcements are expected to be released on. [01:12:25] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:30] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:32] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:35] Speaker ?: New quarterly announcements are expected to be released on. [01:12:36] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:39] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:41] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:43] Speaker ?: New quarterly announcements are expected to be released on. [01:12:44] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:46] Speaker ?: New quarterly announcements are expected to be released on. [01:12:46] Steve Lookner: New quarterly announcements are expected to be released on. [01:12:47] Speaker ?: New quarterly announcements are expected to be released on. [01:12:48] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:53] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:12:55] Steve Lookner: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:13:11] Speaker ?: New quarterly announcements are expected to be released on. New quarterly announcements are expected to be released on. [01:13:13] Steve Lookner: New quarterly announcements are expected to be released on. And so Bloomberg is reporting that the U.S. has seized a sanctioned oil tanker off the coast of Venezuela. Bloomberg calls that a serious escalation of tensions between the two countries. Let me get you some more about this. We might have to do a stream on that later today or something. Is anybody else reporting that besides Bloomberg right now? Let me see. Reuters is reporting it as well. Reuters reports it as well. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Officials tell Reuters. The Coast Guard referred sanctions to the White, referred questions to the White House. Breaking news. So Reuters is reporting it as well. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:14:30] Speaker ?: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:14:32] Steve Lookner: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters puts a seized an oil tanker off the coast of Venezuela. [01:14:36] Speaker ?: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:14:52] Steve Lookner: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:07] Speaker ?: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:09] Steve Lookner: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:14] Speaker ?: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:22] Steve Lookner: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:39] Speaker ?: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. [01:15:41] Steve Lookner: Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. Reuters says the U.S. Coast Guard has seized an oil tanker off the coast of Venezuela. They were cautious about what's coming next year. The majority of Fed members thought there should be either only one quarter point rate cut next year or no rate cut next year or a rate raise next year. If you add it up, 11 of the 19 said either one more rate cut next year or no rate cuts next year or one rate increase by quarter. I'm talking about a quarter point next year. So this was seen as a hawkish cut where it's not, they're not signaling at the moment lots of rate cuts next year, at least for the moment. So we'll have to hear what Jerome Powell says about this. And remember, the two goals, the two mandated, congressionally mandated goals for the Fed are to get full employment. You want as many people working as possible and also keep inflation low. But lowering interest rates can raise inflation and raising interest rates can cause employment to go down. So these goals, you know, you might raise it depending on which goal you think is most in need of addressing. You will want to raise or lower interest rates in theory. So we have eight and a half minutes until the press conference. Stickler for change says, were they just worried the market would spook if they did not cut? Sydney says, where was the oil tanker going? I don't know yet. Where I don't know the specifics on that oil tanker that Reuters and Bloomberg are reporting that the U.S. seized off the coast of Venezuela. I don't know. I don't have the specifics on that yet. Bloomberg says, most Venezuelan oil goes to China, but usually through intermediaries. So, I don't know. So I'm keeping an eye on that as we wait for this to start here, bringing you live coverage. Give me a moment. Give me a moment. Some of our viewers are having problems with X. Some of our viewers are having problems with X. My X is working. Guys, my X is working. But some of you are having problems with it. Oh, maybe it's not working now. X seems to be down. X is not working for me right now, guys. So there. X seems to be down. X is having an outage, it looks like. I'm looking at down detector. It is showing that a lot of people in the last couple minutes are reporting that X is down. Mine just stopped working, I think. Oh, now it's working again. It just started working again. It just started working again. So maybe it was just temporary. It is working again. I wonder what President Trump's going to have to say about the interest rates. So, again, it's not just that they lowered the rates. A big part of the story today is that they did not, the Fed did not signal making very many rate cuts next year. Over half of the committee said they would want either only one quarter point cut next year or no cuts next year or raise them by a quarter point next year. That's over half of the committee, which I'm guessing President Trump is not happy about. So you're looking at the live show. Is there a volume on this? I don't, I don't. Oh, no, they're playing music. Hold on. Wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait. Where is that coming from? Oh, hold on. I got some audio from the room. I got to put my headphones in. I got audio from the room. [01:22:13] Speaker 2: Hi, everybody. We'll get started in about five minutes. If you need to take a second just to check the electronic devices, make sure you sign up the phone, [01:22:20] Speaker ?: make sure you're on the phone, make sure you're on the phone, make sure you're on the voice. When the new conference begins, you're on the topic for a statement, questions. [01:22:27] Speaker 2: Michelle will call on to us if you can raise your hand. When you are called on, there will be a microphone on either side of the room. Just wait to get the microphone. [01:22:36] Steve Lookner: Okay. We are waiting for the Fed press conference with Jerome Powell. In four minutes, it's going to start. Four minutes. Our viewer NAV thinks Trump will likely make a big splash by trying to fire Powell again. Now, Powell's term is over in, I think, in the middle of May, as his term as the Fed chair. Hey, thanks, confidence in God so much. Thank you. Also, Mitchell Pilot. Thank you, Mitchell Pilot, for your support. Really appreciate it. We're waiting for Jerome Powell. Our viewer, D. Fristo, thinks it would not be soon enough, May. Hoosier Girl says, wow, just 20.25% big whoop. We are keeping an eye on the story that multiple outlets report the U.S. has seized an oil tanker off the coast of Venezuela. Which Bloomberg calls a serious escalation. So, as you're listening to Jerome Powell, remember, the two goals of the Fed. They want to have maximum employment, but also, they also want to keep inflation down. So, these are the goals they're balancing. So, if they're more worried about the jobs, about people being unemployed, they're going to want to lower rates. If they're more worried about inflation, they're going to want to raise rates. Now, they can be worried about both. At this point, there are signs to be concerned about both. Inflation is higher than their target of 2%, but in spite of that, they're lowering rates because they think the bigger risk is on the job side, not the inflation side. But I'm sure you will hear Powell talk about those 10 things and the relative risks from both. So, keep that in mind as you hear him speak. [01:25:14] Speaker 3: Two minutes. [01:25:16] Steve Lookner: Justin King says, labor market is going to be the big factor. Oh, did they just say two minutes? Did they just say two minutes? Okay. Did I think I missed that? I think they just said two minutes. I'm going to get, I'm going to, I'll leave my clock up there. What I'm probably going to do is when this starts, I think I'm going to switch the feed to the Fed feed because they'll actually show you the questioners. So, when it starts, give me a moment when it starts, I might switch the feed. Okay? So, bear with me. You might see the video switch and you might hear Powell's voice, double Powell's for a couple seconds as I switch it for you guys. But I think I'll switch it to the best feed for you. I think my clock is going to maybe off by a few seconds because it'll probably take another minute or so after the clock goes to zero. I'll turn the clock off. Hey, thanks, Adrienne Hall, for your support. I really appreciate that, Adrienne. All right, any moment now. Any moment now. Any, oh, hold on. All right, I have the other feed. I have the other feed. Wait, wait, wait. There it is. That's the one we want. Here he comes. [01:27:33] Speaker 4: Good afternoon. My colleagues and I remain squarely focused on achieving our dual mandate goals of maximum employment and stable prices for the benefit of the American people. Although important federal government data for the past couple of months have yet to be released, available public and private sector data suggests that the outlook for employment and inflation has not changed as much since our meeting in October. Conditions in the labor market appear to be gradually cooling, and inflation remains somewhat elevated. In support of our goals, in light of the balance of risks to employment and inflation, today, the Federal Open Market Committee decided to lower our policy interest rate by a quarter percentage point. As a separate matter, we also decided to initiate purchases of shorter-term Treasury securities solely for the purpose of maintaining an ample supply of reserves over time, thus supporting effective control of our policy rate. Although some key government data have yet to be released, available indicators suggest that economic activity has been expanding at a moderate pace. Consumer spending appears to have remained solid, and business fixed investment has continued to expand. In contrast, activity in the housing sector remains weak. The temporary shutdown of the federal government has likely weighed on economic activity in the current quarter, but these effects should be mostly offset by higher growth next quarter, reflecting the reopening. In our summary of economic projections, the median participant projects that real GDP will rise 1.7 percent this year and 2.3 percent next year, somewhat stronger than projected in September. In the labor market, although official employment data for October and November are delayed, available evidence suggests that both layoffs and hiring remain low, and that both households' perceptions of job availability and firms' perceptions of hiring difficulty continue to decline. The official report on the labor market for September, the most recent release, showed that the unemployment rate continued to edge up, reaching 4.4 percent, and that job gains had slowed significantly since earlier in the year. A good part of the slowing likely reflects a decline in the growth of the labor force, due to lower immigration and labor force participation, though labor demand has clearly softened as well. In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen in recent months. In our SEP, the median projection of the unemployment rate is 4.5 percent at the end of this year and edges down thereafter. Inflation has eased significantly from its highs in mid-2022, but remains somewhat elevated relative to our 2 percent longer-run goal. Very little data on inflation has been released since our meeting in October. Total PCE prices rose 2.8 percent over the 12 months ending in September, and excluding the volatile food and energy categories, core PCE prices also rose 2.8 percent. These readings are higher than earlier in the year, as inflation for goods has picked up, reflecting the effects of tariffs. In contrast, disinflation appears to be continuing for services. Near-term measures of inflation expectations have declined from their peaks earlier in the year, as reflected in both market and survey-based measures. Most measures of longer-term expectations remain consistent with our 2 percent inflation goal. The median projection in the SEP for total PCE inflation is 2.9 percent this year and 2.4 percent next year, a bit lower than the median projection in September. Thereafter, the median falls to 2 percent. Our monetary policy actions are guided by our dual mandate to promote maximum employment and stable prices for the American people. At today's meeting, the committee decided to lower the target range for the federal funds rate by a quarter percentage point to 3.5 to 3.75 percent. In the near term, risks to inflation are tilted to the upside. Funds rate by a quarter percentage point to 3 is a challenging situation. There is no risk-free path for policy as we navigate this tension between our employment and inflation goals. A reasonable base case is that the effects of tariffs on inflation will be relatively short-lived, effectively a one-time shift in the price level. Our obligation is to make sure that a one-time increase in the price level does not become an ongoing inflation problem. But with downside risks to employment having risen in recent months, the balance of risks has shifted. Our framework calls for us to take a balanced approach in promoting both sides of our dual mandate. Accordingly, we judged it appropriate at this meeting to lower our policy rate by a quarter percentage point. With today's decision, we have lowered our policy rate three-quarters of a percentage point over our last three meetings. This further normalization of our policy stance should help stabilize the labor market while allowing inflation to resume its downward trend toward 2 percent once the effects of tariffs have passed through. The adjustments to our policy stance since September bring it within a range of plausible estimates of neutral and leave us well-positioned to determine the extent and timing of additional adjustments to our policy rate based on the incoming data, the evolving outlook, and the balance of risks. In our summary of economic projections, FOMC participants wrote down their individual assessments of an appropriate path of the federal funds rate under what each participant judges to be the most likely scenario for the economy. The median participant projects that the appropriate level of the federal funds rate will be 3.4 percent at the end of 2026 and 3.1 percent at the end of 2027, unchanged from September. As is always the case, these individual forecasts are subject to uncertainty and they're not a committee plan or decision. Monetary policy is not on a preset course and we will make our decisions on a meeting-by-meeting basis. Let me turn now to issues related to the implementation of monetary policy with the reminder that these issues are separate from and have no implications for the stance of monetary policy. In light of the continued tightening in money market interest rates relative to our administered rates and other indicators of reserve market conditions, the committee judged that reserve balances have declined to ample levels. Accordingly, at today's meeting, the committee decided to initiate purchases of of shorter-term Treasury securities, mainly Treasury bills, for the sole purpose of maintaining an ample supply of reserves over time. Such increases in our securities holdings ensure that the federal funds rate remains within its target range and are necessary because the growth of the economy leads to rising demand over time for our liabilities, including currency and reserves. As detailed in a statement released today by the Federal Reserve Bank of New York, reserve management purchases will amount to $40 billion in the first month and may remain elevated for a few months to alleviate expected near-term pressures in money markets. Thereafter, we expect the size of reserve management purchases to decline, though the actual pace will depend on market conditions. In our implementation framework, an ample supply of reserves means that the federal funds rate and other short-term interest rates are primarily controlled by the setting of our administered rates rather than day-to-day discretionary interventions in money markets. In this regime, standing repurchase agreement, or repo operations, are a critical tool to ensure that the federal funds rate remains within its target range, even on days of elevated pressures in money markets. Consistent with this view, the Committee eliminated the aggregate limit on standing repo operations. These operations are intended to support monetary policy and implementation, and smooth market functioning, and should be used when economically sensible. To conclude, the Fed has been assigned two goals for monetary policy, maximum employment, and stable prices. We remain committed to supporting maximum employment, bringing our inflation sustainably down to our 2% goal, and keeping longer-term inflation expectations well anchored. Our 6 of those now, too. So, it's partly that consumer spending has held up. It's been resilient. And to another degree, it is that AI spending on data centers and related to AI has been holding up business investment. So, overall, the baseline expectation for next year is at least at the Fed, and I think with outside forecasters, too, is a pickup in growth from today's relatively low level of 1.7 percent. I mentioned that the SEP median is 1.7 for this year growth and 2.3 for next year. Actually, some of that is due to the shutdown. So, you can take two-tenths out of 2020, and put it in 2026, and put it in 2025. So, it would really be 1.9 and 2.1. But overall, yes, you know, for a few reasons. Fiscal policy is going to be supportive, and as I mentioned, AI spending will continue. The consumer continues to spend. So, it looks like the baseline would be solid [01:37:31] Speaker 5: growth next year. Steve. Thank you, Mr. Chairman. We've taken our questions here. You had previously described rate cuts in terms of a risk management framework and kind of following up on what Howard was asking. Is the risk management phase of rate cuts over here, and have you taken out sufficient insurance, I guess, against potential weakness in terms of the data we might get next [01:38:03] Speaker 4: week when it comes to employment? So, we're going to get a great deal of data between now and the January meeting, and I'm sure we'll talk more about that. And that will—the data that we get are going to factor into our thinking. But yes, we have—if you go back, we held our policy rated, you know, 5.4 percent for more than a year because inflation was high, very high, and unemployment and the labor market was really solid at that point. So, what happened is over last summer, summer of 24, inflation came down and the labor market began to show real signs of weakness. And so, we decided, as our framework tells us to do, that when the risks to the two goals become more equal, you should move from a stance that favors really dealing with one of them, in that case inflation, to a more balanced, more neutral setting. And so, we did that. We did some cutting, and then we paused for a while to work our way through what was happening in the middle of the year. And then we resumed cuts in September, and we've cut now three. We've now cut a total of 175 basis points. And as I mentioned, you know, we feel like where we're positioned now puts—we're well positioned to wait and see how the economy evolves from here. [01:39:21] Speaker 5: If I could just follow up on the SEP, you have a whole lot of big increase in the growth numbers, but not a big decline in the unemployment numbers. And is that an AI factor in there? What is going on in terms of the dynamic of you get more growth, but you don't get a whole lot of decline in unemployment? Thank you, sir. [01:39:41] Speaker 4: So it is—the implication is, obviously, higher productivity. And some of that may be AI. It just—also, I think productivity has just been almost structurally higher for several years now. So if you start thinking of it as 2 percent per year, you can sustain higher growth without more—without more job creation. Of course, higher productivity is also what enables incomes to rise over long periods of time, so it's basically a good thing. But that may be—that's certainly the implication. [01:40:14] Speaker 6: Thank you. Colby Smith with the New York Times. Today's decision was clearly very divided. It wasn't just the two official dissents against the cut, but there were also soft dissents from four others. And I'm just wondering if this reluctance from several people to support recent reductions suggests that there is a much higher bar for cuts in the near term. And what exactly does the committee need to see, if things are well positioned right now, to support a January reduction? [01:40:41] Speaker 4: Sure. So let me just say, as I mentioned, and as I mentioned here before, the situation is that our two goals are a bit in tension, right? So interestingly, everyone around the table at the FOMC agrees that inflation is too high, and that we want it to come down, and agrees that the labor market has softened, and that there's further risk. Everyone agrees on that. Where the difference is, is how do you weight those risks, and what does your forecast look like? And where do you—ultimately, where do you think the bigger risk is? And, you know, it's very unusual to have persistent tension between the two parts of the government mandate. And when you do, this is what you see. And I think it's actually what you would expect to see. And we do see it. Meanwhile, the discussions we have are as good as any we've had in my 14 years at the Fed. They're very thoughtful, respectful, and you just have people who have strong views. And, you know, we come together, and we reach—we reach, you know, a place where we can make a decision. We made a decision today. We had, you know, 9 out of 12 supported it. So fairly broad support. But it's not like the normal situation where everyone agrees on the direction and what to do. It's more—it's more spread out. And I think that's only inherent in the situation. In terms of what it would take, you know, we all have an outlook in terms of what's going to come. But I think, ultimately, having cut 75, and, you know, the effects of the 75 basis points will only begin to be coming in, as I've said before a couple times, we're well positioned to wait to see how the economy evolves. We'll just have to see. And we will get, as you know, quite a bit of data. I should mention on the data, as long as I'm talking about it, that we're going to need to be careful in assessing, particularly the household survey data. There are very technical reasons about the way data are collected in some of these measures, both in inflation and in labor, in the labor market, so that the data may be distorted and not just sort of more volatile, but distorted. And that's really because data was not collected in October and half of November. So we're going to get data, but we're going to have to look at it carefully and with a somewhat skeptical eye by the time of the January meeting. Notwithstanding that, we will have a lot of the December data by the time of the January meeting. So we expect to see a lot more, but I'm just saying that what we get for, for example, CPI or for the household survey, we're going to look at that really carefully and understand that it may be distorted by very technical factors. [01:43:27] Speaker 6: And just one more question on dissents. I mean, you talk about in a very positive way, just given the complicated nature of the situation we're in economically, but is there any point in which those dissents become counterproductive either to, you know, the Fed's communication and the messaging around the policy path forward? I wouldn't, I don't feel that we're at that point at all. [01:43:51] Speaker 4: I don't. I would say, again, these are good, thoughtful, respectful discussions. And you hear people say, and you'll hear many, many outside analysts say the same thing. I could make a case for either, for either side. I mean, I could make that case. It's a close call. We have to make decisions. And we, you know, we always hope that the data will give us a clear read. But in this situation you have, you have competing, if you looked at, if you look through the SEP, you'll see that a very large number of participants agree that risks are to the upside for unemployment and to the upside for inflation. So what do you do? You've got one tool. You can't do two things at once. So at what pace do you move? How, how, what, what size moves do you make and that kind of thing? And what, what's the timing of them? It's very, it's a very challenging situation. I think we're in a good place to, as I mentioned, to wait and see how the economy evolves. Nick. Nick Timmeroso, the Wall Street Journal. [01:44:55] Speaker 7: Chair Powell, there's been some discussion recently of the 1990s. In the 1990s, the committee did two discrete sequences of three quarter point cuts, one in 1995-96 and one in 1998. And after both of those, the next move in rates was up, not down. With policy now closer to neutral, is it a foregone conclusion that the next move in rates is down or should we think of policy risks as genuinely two-sided from [01:45:25] Speaker 4: here? So I don't think that a, a rate hike is anybody's base, as the next thing, is anybody's base case at this point. And I'm not hearing that. What you, what you see is some people feel we should stop here and that we're at the right place and just wait. Some people feel like we should cut once or more this year and next year. But the, but when people are writing down their estimates of policy of where it should go, it is a, is either holding here or cutting a little or cutting more than a little. So I don't see that as, I don't see the base case as involving that. So of course, you know, a data set of two, now three is, is not a big data set, but you're, you are right about those two, three cut times in, in the nineties. [01:46:12] Speaker 7: If I could follow up the unemployment rate has been rising very gradually for the better part of two years. And indeed the statement today no longer describes the unemployment rate as remaining low. What gives you confidence that won't continue rising in 2026, especially when housing and other rate sensitive sectors still appear to be feeling restrictive policy from the, notwithstanding the [01:46:35] Speaker 4: 150 basis points and cuts prior to today? So the, the, I think the idea is that with now having cut 75, five basis points more now and having policy, you know, I'd call it in a broad range of, of plausible estimates of neutral, that that will be a place where, which will enable the label market to stabilize or to only pick up one or two more tents, but we won't see, you know, any kind of a sharper downturn, which we haven't seen any evidence, evidence of at all. At the same time, uh, policy is still in a place where it's not accommodative and, and we feel like, we feel like we have made progress this year in non tariff related inflation. And as tariffs come through, as they flow through, that'll show through next year. But as I said, we're, we're well past, well placed to, to wait and see how that turns out. That is our expectation. But, you know, we're going to start to see the data and it'll tell us whether we were right or not. Claire. [01:47:41] Speaker 8: Claire Jones, Financial Times. Um, a lot of people interpreted your comments at the October meeting that, you know, when there's a foggy situation, we slow down to mean that, you know, there won't be a cut now, there'll be a cut in January instead. So it'd be good to get a sense of why did the committee decide to move today, rather than to move in January instead? Thank you. [01:48:05] Speaker 4: Right. So in October, I said, um, that there was no certainty of moving and that was, uh, that was indeed correct. I said, it's possible you could think about it that way, but I was careful to say other people could look at it differently. So why did we move today? You know, I would say point to a couple things. First of all, gradual cooling in the labor market has continued. Unemployment is now up three tenths, uh, from June through September. Payroll jobs, uh, averaging 40,000 per month since April. We think there's an overstatement in, in these numbers by about 60,000. So that would be negative 20,000 per month. Um, and also just to point at one other thing, surveys of households and businesses both showed declining supply and demand for workers. So I think you can say that the labor market has, um, uh, continued to cool gradually, maybe just a touch more gradually than we thought. Um, you know, in terms of inflation, um, we are, it's come in a touch lower. And I think the evidence is, is, uh, kind of growing that what's happening here is services inflation coming down and that's offset by increases in, in, in goods. And that goods inflation is entirely in sectors where there are tariffs. So that does build on the story. And so far, it's only a story that this is, that, that the goods inflation, which is really the source of the excess at this point, that, that, uh, most, almost more than half the source of the excess inflation is goods, is tariffs. And you've got to say then, so what do we expect from tariffs? Uh, and it's, I would say that is to some extent down to looking for broader economic, uh, you know, uh, heat. You know, do we see a hot economy? Do we see constraints? Do we see what was going on with wages? You saw the ECI report today. It doesn't feel like a hot economy that wants to generate, you know, Phillips curve kind of inflation. So we look at all those things, um, and we say that this was a decision to make. It obviously wasn't, uh, unanimous and, um, but overall, that was the judgment that, that we made and that's the action we took. [01:50:22] Speaker 8: And just on the ample reserves point, how concerned were people around the table about some of the tensions we've seen in money markets? Thank you. [01:50:30] Speaker 4: I wouldn't say concerned. So what, what really happened is this, um, uh, balance sheet shrinkage, sometimes called QT went on. We had a framework in place for monitoring it and nothing happened. The overnight reverse repo facility went down pretty much close to zero. Uh, and then beginning in, in September, uh, the federal funds rate started to tick up within the range, right? And it ticked up almost all the way to, uh, interest on reserve balances. There's nothing wrong with that. What that's telling you is that we're actually in reserves in an ample reserves regime. So, you know, we, we knew this was going to come when it finally did come, it came a little quicker than expected, but we were absolutely there to take the actions that we said we would take. So, and we, those actions are today. So, you know, we, we announced that we're resuming reserve management purchases. That is completely separate from monetary policy. It's just, we need to keep an ample supply of reserves out there. Why so big? The answer to that is, uh, you know, if you look ahead, you will see that, that April 15th is coming up and our, our framework is such that we want to have ample reserves, even at times when reserves are at a low level temporarily. So that's what happens on tax day. People pay a lot of money to the government reserves drop sharply and temporarily. So this seasonal buildup that we'll see in the next few months was going to happen anyway. It was going to happen because April 15th is April 15th. There's also a secular ongoing growth of the balance sheet. We have to keep reserves, call it constant as a, as it relates to the banking system or to the whole, whole economy. And that alone calls for us to increase about 20, 25 billion dollars per month. So that's a small part that that's going on. It's also happening in the context of a temporary few months, uh, front loading to get, to get reserves high enough to get through the, you know, the tax period in, in, in mid-April. So that's what's happening there. [01:52:36] Speaker 9: Andrew. Thanks, Mr. Chairman. Um, uh, this is the last post FOMC press conference, uh, before an important Supreme Court, uh, hearing next month. Can you talk about how you're hoping the Supreme Court will rule? And, uh, I'm just curious why the Fed's been so reticent on such a pivotal matter. [01:52:58] Speaker 4: It's not something I want, I want to address here, Andrew. Um, you know, we're not, uh, we're not legal commentators. It's, it's before the courts and, uh, we think our, uh, we, we don't think that we help matters by trying to engage as a, as a, as a, as a public discussion of that. I'll give you a mulligan though. Thanks. I don't know if that means I get three questions, but, uh, [01:53:19] Speaker 9: just one, just one more. I, I guess I wanted to come back to the, the 1990s question and like, do you see that as a useful model for thinking about, uh, what is happening in the economy right now? [01:53:32] Speaker 4: I don't think it rises to that level. So I did think that in, in 2000 and was it 19 where we cut three times, but you know, this is such a unique situation. We, this is, it's not, um, uh, it's not the 1970s. Let's put it that way. But we do have tension between our two goals. And so that's, that's just unique in, in my time at the Fed. And I think going back a long ways, we haven't had that in our framework. Our framework, as you know, says that when that's the case, uh, that we try to, you know, take a balanced approach to, to the two things and we look at how far they are and how long it would take to get them back to each of them back to the goal. And that's a very subjective analysis, really. But it just tells you, you've got to the, and I think ultimately what it says is when they're broadly equally threatened or equally at risk, you should be kind of neutral. Because if you're, if you're either accommodative or, or, or tight, you're favoring one or the other goal. And so we've been trying to, we've been sort of moving in the direction of neutral. Now we're in the range of neutral. We're in the high end of the range of neutral, I would say. And that's what we're doing now. It, it so happened that we, we've cut three times that, you know, we haven't, we haven't made any decision about January. But as, as I've said, we think we're well positioned to, uh, wait and see how the economy performs. Edward. [01:54:56] Speaker 10: Thanks, Mr. Chairman. Edward Lawrence, uh, with Fox Business. I wanted to ask you, um, the inflation expectations, uh, has, has come down in your SEP report. Um, do you see the tariff price increases as passing through in the next three months? Is it a six month process that we're looking for that to end? And then because of that is jobs, the threat to the economy. So with, with tariff inflation, you [01:55:18] Speaker 4: know, it takes, there's the announcement of a tariff and then there's, you know, they start to take effect and then it takes some months. Goods may have to be shipped from other parts. So, you know, it may take, you know, quite a while for an individual tariff to take its full effect. But once it's had that effect, then the question is, isn't that just a one-time price increase? So we've actually, we actually look at it, all of the announcements and, and, and, and what you get from all that, you see sort of a, for each one of them, there's a time period and then it's fully in. So if there are no new tariff announcements and we don't know that, but let's assume there are no major new tariff announcements, inflation from goods, uh, should peak in the first quarter or so, right? Or roughly, you know, we haven't been able to predict this with any precision. No one is, but call it the first quarter or, or so of next year should be the peak. And from here, it should be, it shouldn't be big. It should be a couple of tenths or, or even less than that. We don't really have precision on this. But, and after that, again, if there are no new tariffs that are, that are being announced that will take nine months to get fully in, and nine months is also an estimate, um, then you should start to see that coming down in the back half of next year. [01:56:29] Speaker 10: And, and I want to see if I could address sort of the, and the president's been talking openly about, um, a new Fed chairman. Does that hinder your current job right now or change your thinking at all? No. No. Mike. [01:56:44] Speaker 2: No mulligans for it. Michael, Michael McKee from, uh, Bloomberg Radio and Television. Uh, 10 year rates have, are 50 basis points higher than when you started cutting back in September of 2024. And the yield curve basically has been steepening. Uh, why do you think that continuing to cut now, especially in the absence of data, is going to bring down the yield on the thing that [01:57:07] Speaker 4: will move the economy the most? So we're, we're looking at the real economy and focusing on that. And you, you have, you've got to win that, when the long bonds move around, you've got to look at why they're moving around. If you look at inflation compensation, it's very, you know, that's one part of it is, is inflation compensation, break-evens. And, you know, they're at very comfortable levels. They're at levels consistent, um, past the, once you get out past the very short term now, uh, break-evens are at a, you know, at, at quite, levels that are quite consistent with 2 percent inflation over time. So there's nothing happening with rates going up out there that suggests concern about inflation in the long term or anything like that. I mean, I look, I look at these things pretty regularly. Same thing with surveys. Surveys are all saying that, uh, the public understands our commitment to 2 percent and, and expects us to get back there. So, so why, why are rates going up? It has to be something else. It must be, you know, an expectation of higher growth or something like that. And that's, that's a lot of what's been going on. I mean, you saw a big move, you know, toward the end of last year, which was not to do with us. It was to do [01:58:13] Speaker 2: with other developments. Well, you just mentioned that, um, we're, the public is expecting you to get back to 2 percent. And Americans overwhelmingly are citing high prices inflation as their number one concern. Can you explain to them why you're prioritizing, uh, the labor market, which seems relatively stable to most people instead of their number one concern inflation? So we, um, as you know, [01:58:39] Speaker 4: we have a network of contacts in the U.S. economy, which is really unmatched if you go through the 12 reserve banks. Uh, so we hear loud and clear how people are experiencing, um, really costs. It's really, it's really high costs. And a lot of that is not the current rate of inflation. A lot of that is just embedded higher costs due to higher inflation in 2022 and 23. Uh, so that's what's going on. And so the best thing we can do is restore inflation to, to, to, to its 2% goal. And our policy is, is intended to do that, but also have a strong economy where real wages are going up, where people are getting jobs and, and earning money. And, and, uh, we're going to need to have some years where real compensation is higher. You know, it's positive, significantly positive. So wages, nominal wages are higher than inflation for people to start feeling good about affordability, the affordability issue. And, you know, so we're, we're working hard on that. We want to, we're trying to keep inflation under control, but also support the labor market and strong wages so that people are earning enough money and, and, and feeling economically healthy again. Victoria. [01:59:56] Speaker 11: Um, hi, Victoria Guido with . Just to follow up on that. I mean, this is now the third time that you've cut this year and inflation is around 3%. So is the message that you're sort of trying to send with that, that you're okay with where inflation is for now, as long as people understand that at some point you still want to get back to 2% because inflation is relatively stable where it is. [02:00:20] Speaker 4: And everyone should understand, and the surveys show that they do, that we're committed to 2% inflation and we will deliver 2% inflation. But it's a complicated, unusual, difficult situation where the labor market is also under pressure, where job creation may actually be negative. Now, supply of workers has also gone way down. So the unemployment rate hasn't moved that much. But, um, you know, it's, it's a labor market that, that seems to have significant downside risks. People care a lot about that. That's their jobs. That's their ability if they get laid off or if they're entering the labor force to find work. So that's, that's really important to people. Um, the story with inflation and, uh, you know, we're well aware that this is a story at this point is that if you get away from tariffs, inflation is in the low twos, right? So it's really tariffs that that's causing the most of the inflation overshoot. And we do think of those as likely to, in the current situation, as likely to be a one-time, you know, one-time price increase. Our job is to make sure that it is. And we will do that job. But right now, you, you've got this difficult balance and there are risks to both sides. There's no risk-free path. If we were, if we, you know, if it was just inflation and the labor market was just really strong and then rates would be higher, as they were for more than a year. You know, we didn't have to worry about inflation. Sorry, about the, about the labor market, uh, because the labor market, unemployment was very low. If you remember when inflation was very high, uh, there was a labor shortage. So we could focus entirely on, on inflation. Now it's different. We actually have risks to both. And I think we're, we're doing the best we can for people. They also care about their jobs. They do care about affordability. And the best thing we can do there is to, is both to support economic activity, but also, you know, um, make sure that when tariff inflation goes down and disappears, inflation lands around 2 percent. [02:02:15] Speaker 12: Elizabeth. Thanks so much. Elizabeth Schulze with ABC News. Just to follow up, you keep talking about job growth being negative. Why do you think job growth is so much worse than some of the official data? Why do you think job growth is, to follow up on your comments about job growth, why is it so [02:02:32] Speaker 4: much worse than the official data is suggesting? Oh, well, we just, we know, I think it's, it's, um, this is, I don't think this is particularly controversial. There's a, it's very difficult to, to estimate job growth in real time. They don't count everybody. They have a survey. And there's been something of a systematic over count. And so we, we expected, and they correct it twice a year. So the last time they corrected it, we thought the correction would be eight or 900,000. I won't get the numbers exactly right. And that was, that was exactly what happened. So we think that that has persisted. And, uh, so there's, there's an over count in the payroll job numbers, we think continuing, and it will be corrected. I don't have the exact month in my head right now, but, and that's just, I don't, I, again, I think forecasters generally understand that. So, and we think it's about 60,000 a month, so 40,000 jobs could be negative 20. And, you know, that could be wrong by 10 or 20 in either direction. But in any case, and, but the thing is that's, um, that's job creation in a way, that's job, that's demand. Labor supply has also come down quite sharply. So, you know, if you had, had a world where they're just, there's just no growth in workers, and you really don't need a lot of jobs to have, to have full employment. Some people argue that's what we're looking at. But I think a world where job creation is negative, I just think we need to watch that situation very carefully and be in a position where we're, where we're not, you know, pushing down on job creation with our policy. When we're talking about supply, [02:04:03] Speaker 12: we have seen major American employers like Amazon site AI and job cuts. How much right now are you factoring in AI into the current weakness in the job market? So it's probably part of the story. It's not, [02:04:17] Speaker 4: it's not a big part of the story yet. Um, we don't know whether it will be, but, um, you know, for example, if you look at, uh, you can't miss the big announcements of layoffs and, and also companies, uh, saying that they're, they're not gonna hire anybody for a long time and they cite AI. That's all clearly happening. At the same time, um, people are not filing for unemployment insurance. And, uh, since job creation, job finding rates are extremely low. If there were big numbers of layoffs, you'd expect the, the continuing claims to go up and you expect new claims to go up, but really haven't much. Uh, so it's, it's a little bit curious, but longer term though, you know, the, the question is, what are we going to see here? And we don't, we don't know, but it's, you know, there's a, it may be that in past technology, really significant tension, technology, uh, uh, innovation eras. You have seen some jobs destroyed and other jobs made. Ultimately what's happened for a couple hundred years is when you get through all that, you have higher productivity and you have, you have new jobs and there are enough jobs for people. This is a, this may be different. You know, it's, every time we have a wave of technology, we think, oh, this could, this could put a lot of people out of work. What are they going to do? In the past, there's always been more work and higher productivity and incomes have risen. What will happen here? We're going to have to see, but right now is such early days. We don't think we see much, uh, it's certainly not showing up in, in layoffs yet. [02:05:52] Speaker 13: Thank you, Chair Enda Curran, Bloomberg News. Given the breadth of views on the policy committee, why is there such a division of views between the policy what? On the committee. Thank you. Why is there such a division of views between the presidents and the board members? You know, it's, it's not so [02:06:06] Speaker 4: stark is that there, there's depth there. The views are, are more varied on each, in each group as well. There's some of that, but I would say they're also governors and, and, and, and they're, they're, they're people in, in both, on both sides in both groups. I wouldn't put too much in that. [02:06:22] Speaker 13: Okay. And just to follow up, please. Given your growth upgrade, um, how would you factor in or what would be the economic impact if the Supreme Court is to strike down the tariffs that they're currently hearing, please, in terms of growth and inflation? Thank you. [02:06:35] Speaker 4: I, I, I really don't know. It would depend, um, it would depend on a whole bunch of things we don't know. So, I can't really help you there. Christine. Thank you. [02:06:50] Speaker 14: Thank you, Chair Powell. Christine Romans, NBC News. I wanted to ask you about how the higher income households are really driving spending right now. They're backed by home equity and stock market wealth, but lower income consumers are really struggling with the accumulation of five years now of rising prices. It's price levels, not really the inflation rate, holding some of these families back. How sustainable is this so-called K-shaped economy? And, and what are the Fed's thoughts [02:07:17] Speaker 4: on whether that's a risk going forward? So we do, um, through our vast network of contacts, and just through our observation of what's going on in the economy, we hear about this a lot. Uh, if you listen to the earnings reports for consumer-facing companies that tend to deal with low and moderate income people, they'll all say that we're seeing people, you know, tightening their belts, uh, you know, changing products that they buy, buying less, and that sort of thing. And so, it's clearly a thing. It's also clearly a thing that, you know, asset values, housing values, and, and, and, and, uh, securities values are high, and they tend to be owned by people more at the higher end of the income and wealth. So as how sustainable it is, I don't know. Most of the consumption does happen by people who have more means. Uh, I think, you know, the top, the top third accounts for way more than a third of the consumption, for example. So, um, uh, it's a good question how sustainable that is. Uh, you know, the best we can do is to, is to have a, you know, price stability and a strong labor market. And what we saw, um, for example, what we saw at the end of the, you know, the very, very long, um, expansion that ended with the outbreak of the pandemic, we saw that it was 10 years and eight months or something like that, the longest one in recorded history. In the last two years, most of the job, the largest part of the, of the wage gains were going to people in the bottom quartile, the bottom part of the lower, low and moderate income. So, you know, uh, having a, a strong labor market for a long period of time is really, really good from a social standpoint. It's helping people at the lower income levels. And that's what we all want to get back to, but we got to, we got to have price stability and we got to have, uh, you know, full employment, maximum employment. And just quickly, you mentioned the housing market [02:09:09] Speaker 14: remains kind of weak with these rate cuts that we've seen. Is there a chance we're going to see more affordability in the housing market? So more people can maybe enjoy that part of wealth creation. I mean, the average age or median age of a first time home buyer is now 40 years old. That's the highest [02:09:22] Speaker 4: on record. Yeah. So the housing market faces, um, some really significant challenges. And, uh, I don't know that, you know, a 25 basis point decline in the federal funds rate is going to make much of a difference for people. Um, you know, housing supply is low. Uh, many people have very, very low, low, uh, uh, low rate mortgages from the pandemic period. And they kept refinancing and caught the, the really low. So it's made expensive of them to move. And, you know, we're, we're a ways away from that changing. Also, we're just, we haven't built enough housing in the country for a long time. And so a lot of estimates suggest that we just need more housing of different kinds. So housing is going to be, uh, uh, you know, a problem. And, you know, really the tools to address it are, are, we can, we can raise and lower interest rates, but we don't really have the tools to address, you know, a secular housing shortage, [02:10:19] Speaker 15: a structural housing shortage. Chris. Uh, thanks. Chris Ruegaber, Associated Press. Um, you mentioned on inflation, uh, services inflation being low, goods inflation looking like maybe it'll peak. Uh, we had the wages report you mentioned today showing, uh, moderating wage growth. Where are the inflation risks? It looks like inflation is cooling in your view. At the same time, you have potentially negative hiring. Why not? Uh, why aren't we hearing more about maybe more cuts [02:10:54] Speaker 4: in this environment? Well, I think the risk, risk inflation is pretty clear to see. And that is, you know, we, we see, um, higher inflation, as I mentioned, most of the inflation over target is from goods. And we think, we estimate, we expect most of us that, that inflation will be a one-time price increase and then come down. We just came off an experience where, um, inflation turned out to be much more persistent than anyone had expected. Is that gonna happen now? Uh, you know, that's, so that's the risk. The risk is, is either that, that, that tariff inflation just turns out to be more and more persistent, maybe because, uh, uh, companies who are now holding back from passing through the tariffs will just keep doing that. So you'll see, you see that. Um, I think the other possibility is, is less likely. And that is just that, uh, you know, the labor market gets tight or the economy gets tight and you see, you know, just, just traditional inflation. I don't see that as particularly likely. But, uh, so I, I think, you know, again, uh, you know, all across the committee, uh, people see the, the picture pretty similarly, but see the risks quite differently. And some people do see the, the inflation risk. And I, I wouldn't dismiss that case. I don't dismiss that case, but you've gotta, you've gotta make an assessment and this is the assessment we made. [02:12:25] Speaker 3: Hi, Chair Powell, uh, Neil Irwin with Axios. Um, so this has come up a couple of times today, but to be clear, do you believe that we're experiencing a positive productivity shock, whether from AI or policy factors or whatever? Uh, and how much of that is, how much is that [02:12:38] Speaker 4: driving the higher GDP project projection in the SEP? So, yeah, I mean, uh, I never thought I would see a time when we had, you know, five, six years of 2% productivity growth. This is, this is higher. You know, this is definitely higher. And it was, it was before, before it could be attributed to AI. I think you, I also think if you look at what AI can do, and if you use it in your personal life, as I imagine many of us have, you can see the prospects for productivity. I think it makes people who use it more productive. It may make other people have to find other jobs, though. So, so it could have productivity implications while also having, you know, social and labor market implications that we don't have the tools to deal with. But yes, I think we are seeing, we're definitely seeing higher productivity. I don't, I think it's a little quick to be saying it's, it's generative AI, but, um, I don't know, you know, the pandemic may have induced people to do more automation and do more things with computers to replace people. And that raises productivity, [02:13:40] Speaker 3: you know, output per hour. Does that, does that imply a higher, does that imply a higher neutral rate and therefore the policy might be a little easier than it seems? All, you know, all things [02:13:49] Speaker 4: equal, yes, but all things aren't equal. There are many, many things pushing in different directions on where the neutral rate would be. But yes, that, that argument does come up. [02:13:57] Speaker 16: Matt Egan. Thanks, Chair Powell. Matt Egan with CNN. After today, you only have three more meetings at the helm of the Fed. Since becoming Fed chair, you've seen multiple trade wars, the pandemic, COVID reopening, period of high inflation. I know your term's not up as chair until May, but I'm wondering if you've given [02:14:23] Speaker 4: any thought to what you want your legacy to be. My legacy? I, my thought is that, um, I really want to turn this job over to whoever replaces me in, with the economy in really good shape. That's what I want to do. I want, I want inflation to be under control, coming back down to 2%, and I want the labor market to be strong. That's what I want. And, uh, all of my efforts are to, to get to that place. They have been all along, but ultimately that's, that's what I'm, and it's, you know, I don't have time to think about the bigger things. I have, I hope many years ahead to worry about that, but there's enough [02:15:02] Speaker 16: to do. Relatedly, um, have you given any more thought and can you tell us any more about your plans on whether or not you plan to stay on the Fed board of governors even after your term as chair expires? [02:15:14] Speaker 4: Again, I'm, I'm focused on, I'm focused on my remaining time as chair. I haven't got anything new on that to tell you. [02:15:23] Speaker 6: Go to Mark for the last question. [02:15:27] Speaker 17: Chairman, uh, Mark Hamrick with Bankrate. Uh, even while many price levels remain elevated, the reductions in the federal funds rate means that savings rates or yields, to be more precise, have peaked, while key borrowing rates remain elevated. And that's as we've discussed here, as many Americans struggle with liquidity or for emergency savings challenges. Is that just collateral damage or an unintended consequence because your tools are limited in addressing individual or household liquidity constraints, insufficient money in the bank? [02:15:56] Speaker 4: Mark Hamrick: I don't know. I would, I wouldn't, um, agree that that's collateral damage of our, of our, um, I mean, over time, over time, we do what we do in order to create price stability and maximum employment. And those things are hugely valuable to, to all the people we serve. Um, when we raise rates to bring inflation down, you know, that does work by slowing the economy, but we've moved back our rate, our policy back down to where it's not, it's certainly not strongly restrictive at this point. I think it's sort of in the range of neutral. Um, so that's what we're trying to do. And, uh, I would want people to understand, to understand that. I think what people, what people are feeling is the effect of higher prices. There was a global wave, sort of every large economy in the world, sort of every, every large open economy, market-based economy in the world had a wave of inflation that looked an awful lot like ours. We actually came through better than any other country, substantially better. We had higher growth. We had better labor market. And this is really due to the American economy. We have an extraordinary economy and, uh, you know, people are innovative. They work hard. And, uh, so, you know, we're all of those, all of us who work in economics jobs are really fortunate [02:17:17] Steve Lookner: to have, to have the U S economy. So thank you very much. All right. So that was, um, Chairman Powell. And by the way, while Chairman Powell was speaking, President Trump confirmed that the U S has, uh, seized, uh, a large oil tanker off the coast of Venezuela. So I would actually like to be able to show you president Trump talking about that. Um, if I can find the exact part, he said it in, he is speaking right now. Let me, let me put up president Trump is live right now. So let me just throw up on the screen. President Trump will take some of your comments about the interest rates and [02:18:03] Speaker 18: everything soon, but, uh, let me throw up president Trump on the screen. 1,700 counties against 525. That's pretty good, right? Christiana. 2,700 against 525. 525. That's why when you see the maps are all red, except for a little, two little blue lines on the right and the left side of the map, they're probably changing to Americans are great builders. And then the Trump administration, America is once again, a country where innovators get a green light. You have the greatest innovators in the world at this time and representing a lot of their friends who are competitors and friends. But we were really on a big move to get rid of red tape so they can run their businesses and not have to wait 10 years for approval. In the old days, getting some of these approvals for plants that are already being built would have taken 10, 15, even 20 years prior to rejection. You get rejected. You'd work 20 years and then you'd lose five to four. And we're getting plants approved in a matter of weeks. For every new regulation, we're slashing more than 10 old regulations. So we're not allowing regulations unless they slash 10 old regulations. We did that in the first term and we cut more regulation than any administration ever. In our first term, we have the all-time record. I think we're exceeding it here. In fact, now it's one in 24 is the number we're at. It's one in 10 you have to do. Otherwise, we're not letting you do it. But we're actually up to one in 24. So we get rid of 24 regulations for everyone. That's not a bad deal, right? And it's been very exciting, actually. But including we're allowing 100 in the great big beautiful deal. We're allowing 100 percent expenses. So I'm going to see I'm going to see if he answers questions. [02:20:08] Steve Lookner: He very well might take questions later in this appearance. I can't find the I saw the quote reported about him saying he said at the start of the roundtable that the U.S. had seized a large oil tanker. I think he said on the coast, meaning off the coast of Venezuela. And if he takes questions, I will show that. I want to give you a bit of the reporting, though, about this oil tanker that the U.S. has seized. Let me just check one thing here and see if I can hear him talking about this. Oh, I found it. I found it. I found it. Let me show you. I'm going to show you guys right now where he talked about this, where he talked about the oil tanker. I'm going to show you that right now. Hang on. So this is from this is going to be from about 20 minutes ago when he started the. See if I can pull it up here for you. Give me a moment. Okay, here it is. All right. Here is President Trump about 20 minutes ago announcing the oil tanker news. [02:21:32] Speaker 18: Nice to see you. Well, thank you very much. It's been an interesting day from the standpoint of news. As you probably know, we've just seized a tanker on the coast of Venezuela. A large tanker, very large. Largest one ever seized, actually. And other things are happening. So you'll be seeing that later and you'll be talking about that later with some other people. Very excitingly for me and for the country, We've just launched the Trump gold card. It was. [02:22:12] Steve Lookner: I want to play that again. He said he said other things were happening, too, that we'll see. [02:22:19] Speaker 18: Just seized a tanker on the coast of Venezuela. Large tanker, very large. Largest one ever seized, actually. And other things are happening. So you'll be seeing that later and you'll be talking about that later with some other people. [02:22:39] Steve Lookner: Very excitingly. He said the largest one ever seized. That's what he said. The largest one ever seized. And you can see here. Reuters reports. The US has seized an oil tanker off the coast of Venezuela. Three officials told Reuters on Wednesday in a move that raised oil prices and is likely to further inflame tensions between Washington and Caracas. President Trump has ordered a massive US military buildup in the region, including an aircraft carrier, fighter jets and tens of thousands of troops. The officials speaking on condition of anonymity said the operation was led by the US Coast Guard. They did not name the tanker which countries flag it was flying or exactly where the interdiction took place. Oil futures rose following news of the seizure after trading in negative territory earlier in the day. Global crude futures were trading up 41 cents at 62.35. US West Texas Intermediate futures up 21 cents at 58.46 a barrel. Our viewer Taze Vim says this seems escalatory. I should change the headline here real quick. Well, hold on a second here. I should change the headline here. Maybe we'll get some more clarification on this today from the US government today. In case you missed it, the Fed lowered interest rates as expected by a quarter point. But they did not see it was it was seen as a hawkish lowering because the Fed did not seem to be signaling lots of rate cuts anticipated for next year, although that could change. So the majority of people in the Federal Open Market Committee said they expected one or fewer rate cuts next year with a rate cut being 25 basis points. So we showed that and we talked about that. We talked about we showed you Chairman Fed Chair Powell's news conference there. I want to take a few comments from you guys. Hold on a second here. What is this here? Hold on a second. And then I'll keep an eye to see if President Trump takes questions. He's talking with business leaders right now, but maybe he'll take questions at some point. I don't know. So I'm keeping an eye out for that. Let's see here. Yeah, I don't know what the other things he said talked about that were going on in Venezuela that he said we'll hear about later. I don't know what that he said other things were happening and we'll be seeing that later. I don't know what he's referring to there. Yeah. All right. So what I'm going to do right now, here's what we're going to do. Here's what we're going to do. We've been on for a while and we're going to keep the stream going a little longer, even though we covered the interest rate things, because I want to see if Trump is going to answer questions. And I want to take a few more comments from you, but I haven't taken a break yet. And also, so you may have noticed that, by the way, for the moment, I don't need these on. You may have noticed that this broadcast, well, some of you probably noticed it said, it said it has a, it's a sponsored, oops, there's, you may have noticed that there's a typo and I said u.s comma. Well, we've got to fix that first. So this is one of our sponsored broadcasts. And I also, I think I spelled, I think there was a typo as well. Hold on a second here. Oh my gosh. Everything's all messed up on the headline. Oh my gosh. Crazy, crazy, crazy, crazy, crazy, crazy. Hold on. Let's fix this here. Are we good on the headline? Okay, so I'm going to see if President Trump is taking questions, and I'm going to take some more of your comments on the air. But this is a sponsored broadcast, but you didn't see any, normally when we do a sponsor, we have a sponsored gold safe exchange. Normally when we do a sponsored broadcast, you will have, you'll see, you know, we'll do a couple of ads where I say something about gold safe exchange, and we haven't had any. So how is it a sponsored broadcast if we haven't been playing any of those ads? So what we decided to do today is something a little different. I know, I know our viewership hate things are, hate things that are different, but bear with me if you can. So instead of doing the ads today, what the thinking was is that because we're covering like a finance thing. When I, when gold safe exchange first came to the channel asking to be a sponsor, I wanted to look into it. So I actually met or virtually with the CEO and owner Derek, who actually has been working in finance for a long time and working in money stuff for a long time. And he actually has a bunch of interesting views on things. So we thought today rather than do the ads, what we did is a little, little mini interview segment where I asked Derek a few questions about the economy and he gave his opinion on it. He does talk about his company a bit in it and it is a sponsored segment, but most of what we talked about is kind of about stuff that we talked about today. So instead of doing the ads, which we would have done earlier, we have this mini interview segment with Derek from gold safe exchange, the CEO and the CEO and owner. I think he's an interesting guy. So I think you might find it interesting. If you don't, you don't, but we're going to check that out now. And as soon as that ends, we're going to run this mini interview segment. And as soon as that's over, we're going to talk more about, I'm going to go back and see if Trump's answering questions and I'll get you some more on the oil tanker if I can. And we'll take some more comments for you guys. So here it is right now without further ado, this is a rare thing. We don't usually do that here, but just to do something different, we're trying this today. So here's the mini interview segment from our sponsor gold safe exchange with Derek and I'll be right back after, you know, a number of people these days are invest. That wasn't it. That wasn't it. Here is the segment with Derek. We are here with Derek, the CEO of gold safe exchange. Thanks Derek for coming on. Do you want [02:29:36] Speaker 19: to tell the viewers a little bit about yourself? So my name is Derek Ned. I am the owner of gold safe exchange. I've been in the physical precious metals world for over a decade. I started working on wall street in high school. I got some internships at some investment banks and I've just been involved [02:29:57] Steve Lookner: with with money ever since. Derek, as we move into 2026, there's a lot of talk about what's going to happen with the fed and interest rates. How do you see things playing out with the fed and with the economy [02:30:08] Speaker 19: in general? We know that right now, credit card delinquencies are 12%, which is a 15 year high. Auto repossessions have hit nearly 2 million last year and they're on track to do the same this year. We've got a job market that is weakening. We've got US employers did announce about 150,000 layoffs in October. So you've got government and corporate spending pushing the barbell up, but everybody's sitting here going, it doesn't feel like the economy is doing great. I don't feel great or feel richer. You know, I see the stock market going up, but I don't feel it. It's not helping me personally. So I want, I guess the main thing is, is the fed can lower rates. The fed can not lower rates. The fed can hike rates. You know, it'll have short-term effects. But if you want to talk about the long-term effects, the government has to print money and it doesn't matter what the rates are, they're going to have to keep printing money. So the government has to continue to print and every dollar that the government prints creates more inflation. Okay. So it sounds like you think [02:31:15] Steve Lookner: inflation is coming. Do you think how the midterm election turns out in November could affect that at [02:31:20] Speaker 19: level? We didn't get into the financial situation we are as a country because of this administration or that administration. It wasn't team red and it wasn't team blue. Okay. This was collectively nearly 50 plus years of bad financial decisions created by our political leaders collectively. Right. Regardless of who's in power. And so I, I, I don't like to focus on, you know, a political solution because the problem that we have is a math problem, not a political one. And it's gotten to the point where I don't think any one administration or any one legislative session, whether it's two years or four years, is, is going to be able to do the hard thing. And the hard thing is austerity though. The hard [02:32:04] Steve Lookner: thing is stop the spending. Now you have a precious metals IRA company. I know our viewers know that. And, uh, I know also you feel strongly that precious metals for some people can help diversify their portfolio. Can you give our viewers a little sense of why you think that? [02:32:19] Speaker 19: When I, when I talk to people about what precious metals is, it's insurance on your money, right? It's the oldest form of money that we have. Kings and queens have been murdering each other over this stuff for thousands of years. Anybody that's worked with me has heard me say that sentence, right? And, and, and it's, and it's something to really think about because it's older than the US dollar. It's older than, than the US government. It's older than, you know, I mean, Europeans living on the North American continent, right? It's, it's, it's older than, you know, everything. So when things, and to tie it back into your question, when the manure hits the fan, right? There's a lot of things that we don't know what's going to happen, but the reality is, is something that has been money for thousands of years is not going to stop over the next 20, 30 years of your life, right? It's not going to change because all of a sudden, world war three broke out. In fact, it's probably going to become more valuable. [02:33:10] Steve Lookner: What about crypto? Do you have thoughts on Bitcoin in the crypto world at all? [02:33:16] Speaker 19: In fact, my, my coffee mug is a Bitcoin coffee mug, right? So I, I do like Bitcoin. I do. I think it's a great asset. Uh, I, I think cryptocurrency has, has a, has a bright future potentially, but here's the problem for my, most of my clients who are, again, these are people that worked very, very hard, right? They, they, they've accumulated some savings and now they're, they're planning on, on retiring, right? Well, the problem with, with cryptocurrencies is that they're still so new, right? And they're still extremely volatile. Do I think crypto can go up? Absolutely. And I think it will eventually, right? I think it's going to be really, I think Bitcoin specifically, not crypto is a big whole thing. We just talked specifically about Bitcoin as a commodity. I think, I think it definitely has potential problem is, is, you know, it was $120,000 two months ago and now it's somewhere [02:34:00] Steve Lookner: in the eighties or nineties, right? Well, I appreciate you taking the time to talk today, uh, letting the viewers hear from you. And also, of course, I really appreciate you sponsoring the [02:34:10] Speaker 19: channel. So thank you. You know, one of the reasons that, that I, I gravitated towards wanting to sponsor, you know, agenda free was because, you know, in so many of my, my competitors, right, they, they, they focus on, you know, going towards one political demographic or the other. And one of the things I really appreciate about you is, is you're just the news, right? You know, and, and that's kind of where, where I fell into this space is, is like, look, I'm not, you know, I'm not going to bash Trump. I'm not going to bash Biden. Cause at the end of the day, you know, that's not what I'm about, right? I'm, I'm here to just look at the facts and that's all I've tried to share with you on this, on this interview is, is, is just that. And if there's anyone listening to this, right, the reason I'm I'm partnering with agenda freeze, because I know that if you're watching this channel and you're, and you're a fan of Steve's, then there's probably an alignment here. And there's probably some things that we talked about today that you would like further clarification on. One of the benefits that I've added for everybody that's watching this is you can call my company and you can ask us any questions that you have about the stuff we talked about or anything in that's, you know, you've got feelings that you have concerns that you have, and we're not going to charge you for those consults. And, and, and I hear that we're not going to high pressure sales tactic. We're, we're not going to try to pressure you into doing anything. We want to educate you. And if all we get to do is just educate more Americans as to what their options are, and we don't get to do business with them, that's great because we know that if we're doing the right thing, right, the right things will happen for our company. And, uh, so that, that's my only thing I'd like to add is, is just, it's really just coming from a place of let's, let's, let's work together to help you to understand what the hell is going on. And if that means getting some gold and silver, great. If it doesn't, if it just educates you more and you're like, you know what? I think now that I know more, I realize I don't need this thing. [02:35:47] Steve Lookner: Then great. Awesome. Thank you, Derek, for being here. All right. So, um, again, something a little different today. That's not something we do very often, but thought it might be a nice change, especially because we were covering, uh, this, uh, a financial topic today. So I'm looking right now at, uh, President Trump and he's still not answering questions. Uh, I'm not showing he's doing, President Trump is doing a round table right now with business leaders. And, uh, I mean, he does a lot of events. We don't cover all President Trump's events, but, uh, so, but some, uh, you know, sometimes with his events, it'll be about one thing and then he'll just start taking questions after. So I'm keeping my eye on this, uh, because, um, he earlier, you know, one reason I'm keeping my eye on it is at the start of the meeting, he confirmed that the U S seized an oil tanker off the coast of Venezuela, which is huge news. Um, and I'm waiting to see if there are questions because maybe he'll get asked more about that, or maybe he'll get asked about the fed lowering interest rates, but seeming to not be so enthusiastic about lowering them a bunch next year. Uh, I'd be very interested to hear what he has to say about that. But, um, right now he's not taking questions yet. So, um, I want to take some comments, comments from you guys. Let's give it a few minutes. Let's see if he takes questions. And if he does, um, I will, uh, I'll, I'll certainly put that on the air and see, see what he says. And I also want to just see if we have, uh, by the way, our viewer Marine boy says to, to war, we go with Venezuela. Oh, uh, Jennifer Ehlers says there's so much going on. Matt Phillips says, Oh great. Now we are pirates. I want to thank our moderators too. Hold on a second here. Look, uh, let me show you this right here. See the latest. Uh, Trump says U S has seized an oil tanker off the coast of Venezuela. President Trump said today that, um, that, uh, the U S has seized an oil tanker off the coast of Venezuela amid mounting tensions with the government of Venezuelan president Maduro says AP. It's the Trump administration's latest push to increase pressure on Maduro who has been charged with narco terrorism in the U S. The seizure was led by the U S coast guard and supported by the Navy. According to a U S official a day earlier, a U S milit, the U S military flew a pair of fighter jets over the Gulf of Venezuela in what appeared to be the closest that warplanes had come to the South American country's airspace. Since the start of the administration's pressure campaign, Trump has previously said land attacks are coming soon, but has not offered any details on location. Uh, let me read, um, some comments. Uh, works must die says he's stealing oil tankers now. Great. Um, one of our viewers mentioned flight radar. Um, hold on a second here. Um, hold on a second here. I mean, the U S has been flying plane, uh, military planes near Venezuela for months now. Uh, I'm not seeing anything hugely tracked on flight radar. I mean, yesterday there were these two fighter jets that like 20,000 people were tracking, but that's not there. So normally if there's a military plane, there's a U S air force plane right there. Um, but again, frequently the U S has recently been flying, uh, uh, military planes near Venezuela. Uh, is he answering? Let's see. Hold on a second. Oh, hold on. I think president, president Trump's taking questions. President Trump's taking questions. Hold on. He's taking questions. Let's go to president Trump in the white house. He's taking questions. Hold on. [02:40:07] Speaker 18: So, well, we just want people to come over here and safe. We want safety. We want security. We want to make sure we're not letting the wrong people come into our country. We're getting rid of a lot of bad ones from jails, from, from, uh, mental institutions, drug dealers. And we're getting a lot of, a lot of bad people, murderers, 11,888 murderers, half of them, almost exactly half of them committed more than one murder. We're getting rid of them. In some cases, we don't even want to get them out. We put them in jail because we're afraid they're going to come back into our country. We're not going to let them back in. So we've taken a very tough stand and you see where we've been like Washington DC. Now people walk down the streets and go into restaurants at night. It's beautiful. It's like this beautiful thing to see because until I got here, uh, this was a very, very bad place. We had a terrible thing happened two weeks ago with terrorism with regard to two national guards, people that are so phenomenal. One is no longer with us. And one amazingly, we weren't looking with great hope on that, you know, that Andrew and, uh, today he got out of bed, actually got stood up, didn't say anything. It's a little early, but the chances of Andrew, other than his mother who said, Nope, he's going to be okay. His mother was the most positive person and, uh, could be that she'll be right. It's pretty amazing. Made, made progress. It was, uh, both of them were so badly hurt. We never, we never thought that one could survive. So it looks like Andrew's doing pretty well. [02:41:47] Speaker 20: Uh, the winner of the Nobel prize dedicated the prize to you, the Nobel Peace Prize. And she led Venezuela at a great risk to make it to the ceremony. Um, there is a risk she could be arrested, actually. What would happen if she's arrested? What message do you send or would you send to Nicolas Maduro? [02:42:03] Speaker 18: Well, arrested by who? The Nobel prize committee? That's probably the ones that would arrest. I don't know anything about it. She was very gracious. She said, I should have gotten the Nobel prize and I don't, you know, I mean, I'm doing this to save lives. I'm not doing it for any other reason. But, uh, no, I don't like if she would be arrested. I wouldn't be happy with that. [02:42:24] Speaker 21: The Press: Mr. President, the Republicans, the Republicans currently have a health care proposal that would take away, let those ACA subsidies expire and then put about a thousand dollars in people's HSAs. Do you think that is enough money? And how do you ensure that people who will see those tax subsidies expire won't see their health care costs skyrocket? [02:42:45] Speaker 18: The President: Well, the Unaffordable Care Act, which is Obamacare, they call it now the unaffordable because it's unaffordable. It used to be called the affordable, but it was never affordable. It was always bad. It was basically designed for the benefit of insurance companies. And what we're doing is we want all of the billions and billions of dollars that went to insurance companies to go directly to the people and they can buy their own health care. And people love it. I don't know if the Democrats are going to approve it because they want the insurance companies to make money. It was a scam. Obamacare was a scam. But we're going to see. I mean, we - the Republicans, I can tell you, want the money to go to the people. And we're winning that battle. The Democrats are having a hard time with it because they're in the pocket of the insurance companies. Yes, please. [02:43:33] Speaker 22: The Press: You spoke to some European leaders today, I think, sir. The President: I did. The President: Did you tell us about about that? And is there a new revised peace plan that Ukraine has presented? [02:43:42] Speaker 18: The President: The leaders of France, we spoke to, Germany, and UK - all very good leaders, very good friends of mine. And we discussed Ukraine in pretty strong words. And we'll see what happens. I mean, we're waiting to hear answers before we progress. You know, we're not spending any money in Ukraine. We're selling basically missiles and everything else to NATO. And NATO is paying us. And then they distribute it to who they want. I guess they're mostly distributing to Ukraine. But we're not spending money. But, you know, we are spending a lot of time and a lot of effort. Because last month, 27,000 soldiers were killed. Both - think of it - 27,000. That's - if you take a football game and take half the stadium, that's 27,000. So 27,000 soldiers were killed. Russian and Ukrainian soldiers were killed. And I want to see that stuff. We'll find out. Look, there are a lot of things happening right now. A lot of people say it's closer than it's ever been. It's a war that would have never - if I were President, would have never started. It's a war that should never have started. But we'll - we'll have it figured out, I think, with the - within a pretty short term. [02:44:59] Speaker 22: The Press: You say very strong terms, sir. Could you explain that? [02:45:02] Speaker 18: The President: Well, I think we had some little disputes about people. And we're going to see how it turns out. And we said, before we go to a meeting, we want to know some things. You know, they want to - they would like us to go to a meeting over the weekend in Europe. And we'll make a determination depending on what they come back with. We don't want to be - we don't want to be wasting time. The President: Sometimes you have to let people fight it out. And sometimes you don't. But the problem with letting people fight it out is you're losing thousands of people a week. It's ridiculous. The whole thing is ridiculous. [02:45:45] Speaker 23: The Press: Mr. President, two questions. One, the oil tanker - who owns that oil tanker? [02:45:49] Speaker 18: The President: You'll get that information later. [02:45:50] Speaker 23: The Press: Okay. And have you spoken to Maduro since your last conversation? The President: No, I haven't. The Press: Has there only been one conversation? [02:45:55] Speaker 18: The President: No. [02:45:55] Speaker 23: The Press: And when you say that the European leaders want to have a meeting over the weekend, are you talking about with Zelensky or with them? [02:46:01] Speaker 18: The President: With Zelensky and us. [02:46:03] Speaker 23: The Press: And you said in an interview yesterday that you think it's time for Zelensky to start accepting things. What things are you talking about? [02:46:11] Speaker 18: The President: Well, I think he has to be realistic. And I do wonder about, you know, how long is it going to be until they have an election? It's a democracy. It's a long time. The President: They haven't had an election in a long time. It's losing a lot of people. And it's possible that the people, you know, if you look at the polls, I will say 82 percent - there was a poll that came out - 82 percent of the people are demanding a settlement be made, Ukrainian people. They want to see a settlement be made. I understand that. They're losing thousands and thousands of people a week. They want to see it ended. And I do say, you know, at what point - when do they have an election in Ukraine? That's not casting dispersions on anybody, but they do have a massive corruption situation going on there. And they do say, you know, when - when are they - people are asking this question - when do they have an election? Are they going to have an election? Or are they going to just keep it going like this? So I think it's time to get that war settled. And I think it's a war that can be settled. But it takes two to - two to tank them. [02:47:22] Speaker 24: The Press: Mr. President, do you want to talk about the New Hunters and Warner Brothers discovery to make changes at CNN, big changes? And if he's spoken to Jared about it, what are you doing with Hamburg? You sort of walled him off a little bit. The Press: So what do you want to know? [02:47:33] Speaker 18: The Press: What changes do you want to see at CNN on a new election? The Press: Well, I'm not involved in that. I will be probably involved. Maybe involved in the decision. It depends. You have some good companies bidding on it. I think the people that have run CNN for the last long period of time are a disgrace. I think it's imperative that CNN be sold. Because you certainly wouldn't want to put people - just leave those people with some money, good money, and CNN so that, you know, they can spend even more money spreading poison because it's lies. It's a disgrace. So I wouldn't want to see the same company end up with CNN, the same company with money. Because right now they don't have too much money. But they have value, I guess, based on the bids. They've got value. But I think, I think CNN should be sold because I think the people that are running CNN right now, CNN right now, are either corrupt or incompetent. [02:48:31] Speaker 24: The Press: And that would be a factor in the decision-making because, you know, we've got some serious issues. [02:48:35] Speaker 18: The Press: Well, in my, in my mind, but I'm, you know, I can be talked out of that by some very talented people that we have, antitrust people. But I just think that the people that have run CNN into the ground, by the way, nobody watches. Very few people watch. I don't think they should be entrusted with running CNN any longer. So I think any deal should, it should be guaranteed and certain that CNN is part of it. Or sold separately. But I don't think the people that are running that company right now and running CNN, which is a very dishonest group of people, I don't think that should be allowed to continue. I think CNN should be sold along with everything else. [02:49:15] Speaker 25: The Press: Mr. President, you spoke about affordability earlier in your remarks and yesterday in Pennsylvania. How much more can we expect to see you on the road kind of delivering that message? And are you worried at all about the Democrats winning a couple more things in Miami and Georgia? [02:49:28] Speaker 18: The President: Well, I don't worry about it. You know, it's like, statistically, it's amazing. When you win the presidency, even if you win by a landslide, like we did. And even if you do a good job, and some people say we've done the best opening 10 months in history, you know, in the history of the presidents. I think we have. Who's done better? We ended eight wars. We have the strongest economy. We have 18 trillion dollars coming in, which is more than any country had times. I think five or six. 18 trillion is a lot, even in your standard, right? The President: Yes, sir. The President: Even for that guy. 18 trillion is big numbers. But we have 18 trillion dollars coming in. Pretty amazing, right? I think Qualcomm would be very impressed if they had even a little piece of that. But, so we've done a great job. But for whatever reason, and nobody's been able to give me an answer, when you win the presidency, you seem to lose the midterms. Even if you win the presidency a lot and you do a great job as president. You know, some presidents have done good. And they've lost, I think it's like two times in the last many, many years it's been one. I don't know why. It doesn't make sense. Usually I can figure things out. But I don't know why. But that seems to be. But other than that, we should win because we're doing great. The economy is roaring. I think the economy is only going to go, you know, better with all this money pouring in. We have factories being built. And forget about AI. We have AI more than anybody. We're leading AI by a lot. But we have many car companies coming in from Canada, from Mexico. They're closing up. They're coming in from Mexico. They're coming in from Canada, from Japan, from Europe, all over Europe, Germany, all over Europe. I mean, we're doing great. But for whatever reason, it doesn't matter how well they're doing, you know, good and bad. The bad you understand. But when, even when a president is doing well, they seem to not do well in the midterms. So we're going to try and change it. There should be no reason for it. If anybody at the table can figure out, Bruce, a nice psychological reason. But so I want to win. And winning the midterms is important. People want us to win the midterms. And I think we have great spirit. We should win the midterms. [02:51:48] Speaker 26: Yeah, I think we're going to win the midterms. And we're going to win the midterms. And I think we're going to win the midterms. And I think we're going to win the midterms. And we're going to win the midterms. And we're going to win the midterms. And we're very anxious because yesterday, Rupert reported that your FDA is slow walking on the review of the abortion drugs that Secretary Kennedy promised. Do you want to see that? [02:52:07] Speaker 18: I'll find out. I'll ask them. I don't think they're slow walking on anything, but I'll find out. [02:52:13] Speaker 22: Can we update on the clashes between Thailand and Cambodia, sir? [02:52:18] Speaker 18: Yeah, I think I'll have to make a phone call. I was going to say that Thailand and Cambodia, one of the eight that I settled, they've been fighting for a long time. They've been fighting for a very long time. Many, many, many decades. But I got along great with both. I found they were two great leaders, two great people. And I've settled it once. I think I can do it pretty quickly. I think we're scheduling a phone call tomorrow. With Thailand. With Thailand, if you, you know, just to answer, Steve, with Thailand and Cambodia, I think I can get them to stop fighting. Who else can do that? Think of it. So late wars. Every once in a while, one will flame up again. And I have to put out that little flame. I have to put it out, but we're going to put it out again. So I think I'm scheduled to speak to them tomorrow and see if I can. It was unfortunate what happened. I mean, I know exactly what happened. It got it sorted a little bit. But we'll see if we can put it out. [02:53:21] Speaker 22: We're interested in the seizure of this tanker. What happens to the oil on that ship? [02:53:26] Speaker 18: Well, we keep it, I guess. Where does it go up? What does it go to? Well, you have to follow the tanker. You know, you're a good newsman. Just follow the tanker. [02:53:34] Speaker 24: Do you know where we're going? [02:53:35] Speaker 18: Follow it. Follow it. Get a helicopter and follow the tanker. [02:53:38] Speaker 23: Is it true it's going to keep that? [02:53:39] Speaker 18: But we're going to, I guess, soon we're going to keep the oil. [02:53:41] Speaker 23: The Press: Mr. President, I'm Fed Chair. Kevin has said you're going to announce your decision within the next two weeks. Is that correct? The President: Maybe. The Press: Are you doing your interviews with finalists today? [02:53:51] Speaker 18: The President: Well, I'm meeting with Kevin Warsh today, so I'm meeting with him. And I sort of have a very good idea of what I'm looking for. Again, I'm looking for somebody that will be honest with interest rates. That's all I just want to honestly. Our rates should be much lower. Our rates should be the lowest rates in the world. Because all these countries that you see, you know, with low rates, many of them are low because of us. Because they suck so much money out of us. But that's not happening anymore. We should have the lowest rates in the world. And without us, none of them really exist as an economy. I mean, I can show you these really prime, really wonderful countries. They've had nothing but success. It's because they took so much out of the United States. I mean, it's one of those little problems. I want to see that when we do well, we're rewarded for doing well. Not the way it's been for the last pretty long period of time. [02:54:49] Speaker 23: I'm asking for finalists to pledge to lower rates. Are you asking these finalists to pledge to lower rates if they become the chair? [02:54:55] Speaker 18: No, no. I'll be asking questions and I'll be able to figure it out. [02:54:58] Speaker 20: We have three countries sending drugs to the U.S., Mexico, Venezuela, and Colombia. And you talked to the president of Mexico. You already talked to Nicolas Maduro. Have you considered talking to the president of Colombia who you called a drug addict? [02:55:12] Speaker 18: No, I haven't really thought too much about him. He's been fairly hostile to the United States. I haven't given him a lot of thought. He's going to have himself some big problems if he doesn't wise up. Colombia is producing a lot of drugs. A lot of -- they have cocaine factories that they make cocaine, as you know, and they sell it right into the United States. So he better wise up or he'll be next. He'll be next, too. And I hope he's listening. He's going to be next. Mr. President, because we don't like people when they kill people. And they sell drugs, they kill them in the United States. And Colombia is a major manufacturer of drugs, meaning cocaine in particular, as you know. [02:55:56] Speaker 27: The Press: Thank you, Mr. President. Mr. Thank you. The Press: Multiple House Republicans in recent weeks days have been critical of Speaker Mike Johnson. I wanted to ask you if you're still confident in the Speaker to keep his conference together ahead of the midterms. And how often are you speaking about him? [02:56:09] Speaker 18: The President: I think Mike Johnson is great. You know, he's had a majority of two, three, four. Then back to two, we actually had one. So we were one heart attack away from disaster. So everybody prayed for everybody's help. I think Mike Johnson's been a fantastic Speaker. I mean, a very hard job because, you know, when you have a small majority. And we got the biggest bill in the history of our country approved. The Great Big Beautiful Bill. I call it The Great Big Beautiful Bill. There are different names for it. But to me, it's The Great Big Beautiful Bill. Because it gives the biggest tax cuts in history, the biggest regulation cuts in history. No tax on tips, no tax on Social Security, no tax on overtime. I think Mike Johnson's been a great Speaker. I think few people could have done that yet. [02:56:59] Speaker 27: Do you want to see another big package move through Capitol Hill the next year? [02:57:02] Speaker 18: The President: Well, we don't need it because we got everything. You know, this was supposed to be 17 bills. And I think it was my idea. But, you know, with the concurrence of people that have done this a long time. And I said, why don't we make it one bill? Because it's very hard to get things approved by the Democrats. And it worked out because there was something good for everybody. If we would have done 17 bills, we wouldn't have gotten a third of them approved. It was something great for everybody. And the one, you know, The Great Big Beautiful Bill. [02:57:31] Speaker 28: The President: Good to see you, Mr. President. The President: Hi. The President: You can follow up on the event last night in Pennsylvania. The huge crowd turned out there. The President: Yeah, big crowd. The President: It seemed like rally Trump was in prime condition last night. You enjoyed it. Just give me your thoughts on that. And then I do have a question on the gold card. [02:57:47] Speaker 18: The President: Last night was amazing in Pennsylvania. We had a tremendous crowd. It was like freezing. And the people, the thousands of people on the sidewalk trying to get in, the streets. It was an amazing evening, actually. And I think people really enjoyed it. I enjoyed it. You can tell that. The President: I can tell that you enjoyed it. The President: I enjoyed it. I really enjoyed it. Well, you know, it's easy to enjoy when you do a good job. And, you know, when you can talk about things in a very positive way. It's hard not to say. We have potentially the greatest economic boom in the history of the world. It's being built right now. And when it opens, there will be nothing ever in history like what's happening in our country. And, you know, Washington, D.C. is safe, and Memphis is now. Look at Memphis. Crime is down 60 percent in Memphis. We just got there three weeks ago. And we're going to have New Orleans. New Orleans was — we just sent a group of people there. And crime is down 28 percent in about three days. You know, we do a good job, you know. And these are central casting people. These people are — they're very tough people, if they have to be. They're very good. They're great patriots. But they are the toughest, and they don't take any nonsense. And every place we go, we knock down crime. Too bad that we're not invited more into Chicago, because we could save Chicago very quickly. But even that, we're doing it on a minimal basis until, you know, at some point we'll just go in and do what we have to do if the governor doesn't wise up. They've got a bad governor, they've got a bad mayor. I would say they're both incompetent. But it's hard to believe that people don't want to stop crime. We could stop the crime in Chicago in about two weeks. Go ahead. [02:59:42] Speaker 28: My question is on the — on the gold card. Is — and I apologize if I missed the answer to this — is there a limit to how many gold cards these companies can buy? [02:59:51] Speaker 29: Howard? So the — the program is part of the already approved visas. So we're just going to have great people come into this country. You know, the average green card holder earned less than the average American. So they were more likely to be on the dole and be on our assistance programs than average Americans. And the idea is from President Trump, he wants to raise it, bring in the best people into America. So same visas, but now just full of the best people. Basically, it's a green card, but much better, much more powerful, a much stronger path. [03:00:35] Speaker 18: And a path is a big deal. Have to be great people, but much stronger path. And it also, in addition to that, helps companies — because it's not only for companies, but if IBM gets somebody number one in this class at the Wharton School of Finance, and you're dying to get the person, but you can't guarantee the person stays in the country. Because oftentimes they'll say, "I'm sorry, sir. You got to get out of here. You have 24 hours, right?" And you say, "Where's my employee?" Now IBM can buy a card, and that employee can be there for essentially a very long period of time. [03:01:12] Speaker 21: The Press: Mr. President, how did you tell Bruce — [03:01:14] Speaker 18: it's so needed for the companies. You know, it's needed for others. But really, it's basically a much better form of a green card. And you can't get green cards. They are impossible to get. This is much better than a green card. Yeah? [03:01:30] Speaker 24: The Press: Yes, sir. Did you tell Bruce Blake not to run for governor, or that she should think about not running for governor? [03:01:34] Speaker 18: The President: I haven't spoken to — first of all, he's a friend, she's a friend. These are two great people running. In a way, I hate to see them running against each other. I hope they're not going to be damaging each other. But Elise is fantastic, and Bruce is — they're two fantastic people. And I always hate it when two very good friends of mine are running, and I hope there's not a lot of damage done. Sometimes it works the other way. The victor ends up being much stronger because of it. A lot of times that happens in politics. [03:02:08] Speaker 24: Do you think you spent a couple of months to actually see the performance? [03:02:11] Speaker 18: The President: Well, I think in New York, we have a convention toward the end of February. And I think you'll know pretty much at the end of February what's going to happen. And I'll probably have to, you know, do what I want to do. But I hope that he's running now, as you know, and she's running. We have two very talented people. Either one should win against the Democrats. [03:02:35] Speaker 30: The Press: Mr. President, a legacy story lately focuses on one of your Cabinet members predicting that you're going to acquire this one, or you're going to get rid of that one. Of all your Cabinet members, who would you perceive as the most under attack? [03:02:45] Speaker 18: The President: Well, I think my Cabinet's fantastic. I read the same stories that I'm unhappy with this one or that one, and I'm not. I think the Cabinet's done a great job. I read a story that I was unhappy with Pete because he was attacking drug dealers. And I said, "That's not exactly right." And I would say very much the opposite. Pete Hegseth has been phenomenal. I read a story recently, I'm unhappy with Christie. I'm so happy with her. I mean, we have a closed border. We have a border that's the best border in the history of our country. Why would I be unhappy? She's fantastic, actually. No, we have a fantastic Cabinet. Really fantastic Cabinet. I mean, let the guy have to think about it. No, we can't have everything. Ken have everything. Ken have everything. He's doing great. Well, Howard's done really well, and Scott's done really well. We have just a fantastic Cabinet. I'll tell you who's doing a great job is Linda McMahon. We're bringing education back to the states where it belongs. Education is going, "We can't do any worse than we're doing right now." Let the states run it. You know, if you go back to some of our states and it runs so well, so good, I would say 40 of them. And then you'll have trouble with five and you'll have bigger trouble with another five. But you have 35 or 40 states that will run education as good as Norway or Denmark, Sweden. We have some, you know, the heads of the list are Denmark, Norway, Sweden, a few others. I think if you go to Iowa and you go to Indiana and you go to, I can name a lot of states, I think it would be almost the equivalent or maybe better. But you can't run a school system in Iowa from Washington, D.C. [03:04:45] Speaker 22: Yeah. Sir, the Gaza plan, what do you expect to announce members of the Board of Peace, the leadership of that? [03:04:52] Speaker 18: Well, we'll do it early next year and the Board of Peace are going to, it'll be one of the most legendary boards ever. Everybody wants to be on it. It's mostly going to be, I guess, you know, we weren't thinking about it that way, but they want to all do it. Basically, it'll be the heads of the most important countries. [03:05:12] Speaker 23: Mr. President, they all want to be on it. [03:05:16] Speaker 18: It wasn't really planned. We, you know, we thought we're going to get very distinguished people that do that kind of thing for a living. But really, it looks like it's starting out to be, they want to be on the heads, the kings and the presidents, prime ministers. They all want to be on the Board of Peace. [03:05:33] Speaker 21: Mr. President, they all looked at last night's rally. Can you clarify, you have called the affordability crisis as a democratic hoax, but you also want to make America affordable again? [03:05:43] Speaker 18: Mr. No, the word, the word that they use is a hoax and because they're the ones that caused the problem. I'm only, no, I'm talking about when you, you know, you're trying to say it a different way. Now, it's pretty simple though, if you listen. It's a hoax where they created the problem. They're the ones that gave the high prices. So when they use the word affordability, they shouldn't be using that word because they're the ones that created this problem. They created the highest inflation in history and they created the highest prices in history. And now we have to get those things down. But when they go, they look and they say affordability. They never discuss it. They just say the election's about affordability. Well, it may very well be. I think it's also about still the border. You have to remember the job. You know, the sad thing is for seven months, we've had no people come through our border. Nobody can even believe it. Zero people. And the people that do that are largely Democrats, which the people that do the stats. We've had no people come in other than coming in legally. But if you take a look -- and nobody wants to talk about that. In fact, last night I said, let me talk about the border. My own people told me, sir, nobody cares about the border anymore. You've fixed the problem. I said, do I get a little credit for fixing a disaster where millions of people a month would flow into our country? And, you know, from prisons and from gangs and from drug dealers and mental institutions. They say, sir, you've fixed the border. Nobody cares. I say, but I care. It's sad when you fix something and then you can't even use it. You can't talk about it. My own people don't want to talk about it anymore. But very simply, the Democrats created the worst crisis of inflation that this country has ever had. And with that came the highest prices that we've ever had. And I'm fixing it. [03:07:45] Speaker 23: Mr. President, has Secretary Hexen told you why he hasn't released the video of the second strike? [03:07:50] Speaker 18: No, he hasn't told me. I thought that issue was dead. You're surprised you're bringing it. You must be CNN. [03:07:56] Speaker 23: The President: Lawmakers are still talking about it on the Hill. [03:07:59] Speaker 18: The President: Are you CNN? [03:07:59] Speaker 23: The President: I am with CNN. [03:08:00] Speaker 18: The President: Okay, I'm shocked to find out. [03:08:02] Speaker 23: The Press: But lawmakers are still talking about it on the Hill. [03:08:04] Speaker 18: The President: Well, I'll tell you. I don't know about lawmakers. Which lawmakers are you talking about? [03:08:07] Speaker 23: The Press: Just the Democrats that are talking about trying to release it. [03:08:10] Speaker 18: The President: You mean the people that you work for? The Democrats? You know you work for the Democrats, don't you? You're basically an arm of the Democrat Party. Thank you very much, everybody. I appreciate it. Thank you. The President: Thank you very much. The President: Thank you very much. [03:08:24] Steve Lookner: The President: Come on, you want to talk? [03:08:25] Speaker ?: The President: Thank you very much. The President: Thank you. [03:08:28] Steve Lookner: The President: All right. The President: Well, there you go. The President: We got to hear President Trump answer some questions there. The President: So look, here's what I want to do. We didn't come on the air to cover the Trump appearance or the Venezuela oil tanker thing. We came on the air to cover the Fed interest rates decision, okay? And so we did some bonus coverage from you, a bunch of bonus coverage of this. But I need to take a break and eat something, to be quite honest. And we very well might later today. I may want to do a stream on the oil tanker, but I don't want to do it right this second because I need to just take a little break and eat something. So I think what I'm going to do is wrap up this stream. And we very well might do a stream in a little bit where we cover the oil tanker news. OK, but I got to do that right now. This this we ended up going, which is I'm glad we got to cover that. But we ended up going longer than I thought because we were covering the oil tanker and then President Trump answering questions. So so so let me do that. And we very well might have a stream on the oil tanker stuff. By the way, Politico is saying the oil tanker was headed to Cuba. That's what Politico is saying. But so let me do that. All right. And maybe we'll be on a little later to talk about that. OK, so I appreciate your you're allowing me to do that. And I really appreciate everybody being here for the stream. If you missed it, we covered we did full cover of the interest rates decision. We showed Jerome Powell's press conference if you missed that. And we talked all about that. So so more more to come. But again, let me let me go take a break and do that. But feel free to rewind and check that out. So I really appreciate you guys being here. Also, thanks for letting me read your comments on the air and sending in your comments and updates and posting in the chat. And I would suggest turn on notifications for the channel. If you want to know if we're coming on again today, turn on. We have a notification system. You sign up for free and you get a notification whenever we go live. We do it through discord. It works great. I would recommend you sign up for that. The mods will post the link to sign up for the free notifications. You can find that link also on Facebook and YouTube. In the description of this broadcast, you'll see the link to sign up for the notifications. But I would highly recommend signing up for those. Also, if you're on X, you can follow us at agenda free TV on X. I always post there when we're going live, too. So follow over there. And I'll put the link to that in the chat. And I will post while I'm off the air. If I see updates to the news, I'll post on my X account, which is at Lookner. You can follow me there if you want on X at Lookner. So again, while I'm off the air, if I see stuff going on, I'll post about it there. But we very well might do another stream today. I just need to take a break and eat something, to be quite honest. So let me go do that. And let me see how things are looking. And maybe we'll do a stream about the tanker. Also, so I really appreciate you tuning in. And huge thanks to our moderators as well. They are the reason that we can have our chat rooms. We couldn't have it without our moderators. So huge thanks to our moderators who've been here. I owe a couple of people thanks for donations, too. 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He says it is beyond me as to why this administration refuses to apply more pressure to Russia. That's what Mitchell Pilot says. He is a Trump fan, by the way. Thank you also Sevenfold for your support. And Adrienne Hall. And Flumpington's on Twitch. Thanks for your support. Diet Ginger Dale. Thanks for subscribing on Twitch. Tool Man Tim. Thanks for the gift sub on Twitch. I really appreciate that. Okay. Also, we do have a chat where you can chat with other viewers when we're not live on Discord. It's free. It's the same link as the free notifications link. So check out our Discord chat. And thanks so much to our Discord mods as well. I really appreciate all you do Discord mods. Thanks, Cece, for the bits on Twitch. Again, we very well. I'm going to take a little break right now. I've got to eat something. We might do a stream on the Oil Tanker News we've been talking about during this stream. We might do its own stream a little later. But let me just take a quick break and eat something first. And what else was I going to say? Oh, if you're on YouTube, if you're watching there, I would suggest turn on the notifications on YouTube. That's another great way to find out when we're live. To turn on the YouTube notifications, what you need to do is you need to subscribe to the channel, and then you have to click on the notifications bell and choose all notifications. If you are subscribed, make sure you have the bell checked and you've chosen all notifications to get the notifications. All right. Also, big thanks to our Facebook subscribers for subscribing to the channel, like Robert Real II, and Diane Allworth, and Sharon Klassen-Goslin, and Christy Claft, and Kayla Arribadi, and Margaret Riley, and Shannon Davis-Hughes, and Chuck Mosca, and all of our other Facebook subscribers. Thanks so much for supporting the channel over there. And also on Twitch, thanks to our subscribers there, like MatthewKohai3, and DaBears, and WallStreet, and Shaggy, and Flumpingtons. Um, and, uh, and, uh, let's see. CC, thank you for being a subscriber. Uh, ChiTownBear, thank you. Uh, did I say WallStreet and Shaggy? I think I did. A million, thanks for subscribing. PrettyBoyFloyd, uh, Baldinger, I think it is. Uh, and, uh, BaldGinger, I'm sorry. Thank you for subscribing over there. Uh, Douthis, thanks for subscribing. And all of our other Twitch subscribers, huge thanks. And our YouTube members, thank you for being members over there. People like Kenneth Colton, Delito Matic, Patricia Grace, CACA13, Betsy's Tag, uh, Larry Martinez, Marcus G, uh, Michael Avery, Ellen G, Chaz Martin, uh, Fred Flintstone, Gary Baines, all of our other members over there. Thank you so much, Kenneth Colton, everybody else for watching. Aldo, watching from the Netherlands, thank you. Sean Green, uh, Kenair, Kenair Rose, JC, KQ, DGeorge, thanks for watching. MissyFuss on Twitch, um, Pendergasted, all of our other views over there. Uh, and, uh, let's see here. Oh, thanks to, uh, Toolman Tim for subscribing and, uh, thanks for watching Paula Thompson and, uh, a couple more here. Uh, Stacia Morgan, uh, thanks for watching on Facebook. Forrest Richie, thanks for watching. Melissa Terry and Kelly Reed Litchfield, was it? Did I get that right? All right. So, again, I am taking a quick, I'm going to take a break. I'm going to eat something. I need to eat something and maybe we'll do a stream on, on, on, on, on the oil tanker stuff. I will keep an eye on that. Maybe we'll get more from the U.S. government on that too. Trump seemed to suggest that we're going to hear more from the U.S. government on the oil tanker. So, um, so, uh, I will keep an eye on that. So, let me eat something and maybe we'll be back in a little bit with, uh, the food, with, with the food, with more news. Also, thanks so much to Derek from, uh, Gold Safe Exchange for, uh, coming on for the sponsored segment mini interview that we did. Um, okay, uh, that is it for now. Uh, thank you for watching and, uh, we will see you soon with more live coverage, maybe later today. We'll see you soon with more live coverage, uh, right here, uh, at Agenda Free TV. [03:17:33] Speaker ?: We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. We'll see you soon with more live coverage, uh, at Agenda Free TV. Продолжение следует...