Rick Pederson takes a big picture approach when looking at the U.S. economy, siding with the Fed on 75bps of rate cuts over the next several months citing a weaker labor market as something to watch. He later discusses his research into shifting trends for data centers allocation moving towards the middle region of the country. He says a younger workforce is predominantly leading to growth in these states and stresses the positive ripple effects that has on the economy. But, most significantly, Rick points to the cost of electricity and taxes being cheaper in places like Texas.