I think a lot about these issues. Obviously, I think first um the base layer of digital cash on the internet needs to be as safe as possible and I believe that you know the bipartisan policym I think leadership from the administration has set in federal law that stable coin money is going to be this very safe fully reserved form of money. when you have money moving at the speed of the internet everywhere in the world, you need it to be as safe as possible and short duration treasuries uh you know there are ...

Market Trend - Traditional equity and credit markets with over $100 trillion could shift to digital asset-backed instruments [1] - Digital asset-backed instruments are expected to outperform fiat counterparts [1]

Market Trends & Geopolitical Risks - Investors are closely monitoring Iran and Israel's trading strikes, alongside the Federal Reserve's meeting [1] - Markets appear inclined to shrug off risks related to geopolitical or trade tensions [2] - There's no shortage of a bid from the international community [9][10] Interest Rates & Debt Market - Volatility in rates is a significant concern [2] - US debt level is a frequent topic of discussion on Wall Street [1] - Credit markets have been exceptionally resilient, with both high yield and investment grade retracing losses [3] - Credit market activity is incredibly resilient, potentially leading to a record first half, absent the Covid acceleration of debt [4] Inflation & Economic Growth - Increased inflation is expected to be a focus in the Fed's projections and press release, with a potential downgrade of growth and one rate cut pushed into next year [13] - Tariffs are expected to increase inflation, with businesses potentially passing through about 50% of tariff costs to consumers [17] - The Fed may adopt a more hawkish bias than the market anticipates, potentially pushing one rate cut into next year [20][21] Fed Policy - The Fed is in a position to wait for more data, given strong labor markets and favorable inflation numbers [10] - The Fed aims to temper expectations of a "Fed put," viewing the inflationary impact as a one-off event that will be resolved by the fall of 2026 [19]