"Tariff inflation was the dog that didn't bark, and in June, on CNBC, still running it. People like to say it's added to inflation, but when you look at the data, the structural inflation has been in services. When you look at the data, hold that phrase because we are about to do exactly that with his administration's own data. Nine now expect at least one hike by the end of the year. Eight expect a hold. Exactly one, one still expects the cut the administration keeps promising you. Nine to eight to one. Look at that chart and tell me the dog was quiet. A tax you are told is imaginary, is a tax you cannot vote on, argue about, or plan around. And that is the whole point of the silent dog routine. Watch the minutes, not the microphone. I'm Marcus, and this is PixelPolitics."