9/18/2025

My Dear Friend & POTUS, DJT, 

Since you are so busy during your brief stay in London, I assume that by the time you get this, you will be back in the USA. I presume you will be aglow after being showered with so much gratitude & praise by the Royals & their consorts. Your good feelings will, no doubt, be augmented by the gift of lower interest rates just bestowed on you by the Federal Reserve.  

Speaking of the Fed, their recent meeting turned out quite nicely for all involved – Lisa Cook & Stephen Miran got to participate. The team came close to unity & economists like Jason Furman, of 44’s admin, were “thrilled’’ that the team demonstrated some independence from you. An interest rate of 4.00% to 4.25% seems just right to me. 

OoM, please help me understand what 100+ Army officers & a C-130J Super Hercules are doing in Bangladesh? The CSR journal speculates we’re going to have joint exercises with the Bangladesh military in Cox Bazaar. From my uninformed vantage point, it seems bizarre to have exercises where a million Rohingya refugees are sequestered in camps. I worry that things might turn into the situation we are seeing in Gaza where families have nowhere to go as conflict surrounds them. Please remember WINTA! 

May we both get back in sync with the sun quickly, 

BYBS,