 Here’s my interview dance card in D.C. this week, and what’s on my mind. But send me questions! You can reply to this email. John Williams, New York Fed President The Bank of England is launching a major overhaul of how it forecasts inflation after former Fed Chair Ben Bernanke detailed the failing of the BOE in a policy review. Does the U.S. Federal Reserve need a similar postmortem? Plus: The latest jobs and inflation data shows the economy is still running hot — perhaps too hot for the Fed to ease off before the summer. Does it have the guts to make a major move on interest rates in the back half of an election year? Christian Lindner, German Finance Minister Europe’s biggest economy is likely in a recession, with four straight quarters of near-zero or negative growth. “Germany is not the sick man” of Europe, Lindner said recently, but a “tired man” in need of some coffee. What’s the disease, and what’s the coffee? Plus: rearming a nuclear Europe, trade with China, and keeping the Western consensus on Ukraine together. Jeremy Hunt, U.K. Chancellor of the Exchequer Speaking of sick men of Europe — technically not Europe, which helps explain why it’s sick — the U.K. is also in a recession and expected to have essentially no growth until 2026. That’s despite recognizing early on that inflation was anything but transient and being the first major government to start raising interest rates. Where did it go wrong? Plus: AI investments (Hunt is Her Majesty’s government’s point man), EV subsidies, and his plan to build a Hollywood in east Britain. John Waldron, Goldman Sachs President Trillions of dollars of assets have moved out of banks and onto the balance sheets of their clients, out of view and much of it backed by untested funding. Are we headed for a reckoning? Goldman is also in the late stages of a retreat from consumer banking, getting back to its roots as a Wall Street firm. Where does it go from here? Valdis Dombrovskis, EU Trade Minister Is Europe ready for another Trump administration? His protectionist policies last time sparked a trade war and retaliatory tariffs on everything from steel to Harley Davidsons to Kentucky bourbon. The relative strength of the U.S. economy versus Europe’s has only widened since then. Plus: Janet Yellen was in China last week warning of “overproduction” — those exports have to go somewhere… Patrick McHenry, Chairman of the U.S. House Financial Services Committee McHenry launched his career as a Republican firebrand, but he has advocated for technocracy over partisan theater on “the most complicated bits” of economic policy, like the debt ceiling and budget negotiations. He’s criticized financial regulators over new banking rules and his own caucus over Ukraine funding. He’s not running for reelection, and I wonder if he’ll have a more pointed message for fellow Republicans on his way out. | 
