Chairman discusses supply-demand balance and AI's impact on economic calculations and productivity.

We're trying to get supply and demand in broad order. But really what we're doing as we sit here today at this press conference is I think we've got a reasonable sense of what aggregate demand looks like in this economy. We're inferring aggregate supply. We're making a judgment about what productivity is. And in some sense, there's a race between supply and demand. And the surge in business capex in around AI, it's making that calculation a little harder to judge. But... But in the period ahead we're going to be trying to judge just that. And if I could ask where exactly was the disagreement today, was it about the inflation forecast or was it something more around the risks, the tactics?