world and his morningstar's outstanding portfolio manager of 2023 blackrock global fixed income ceo rick riedernt to be an outstanding portfolio manager? if you're going to run that much money it is. it's a lot of hard work. i will say it's been it's been an incredible period rates. exactly so since the last time you've come on the show, things have proceeded pretty much in the direction you said they would. but update us. what's your view on the economy? can we did we dodge recession? so that's far. i mean, i listen. i think the economy u. s economy is the most resilient, adaptive , reflexive economy in the world. it's incredible how it adjusts its. it's a service oriented economy is different than 2030 years ago, and i think the economy is doing better than people anticipated . the one thing i will say today, though, maybe slowing a bit, but i think people have have underestimated how strong this economy can be. you call it the polyurethane economy, and you've also noted that the absolute numbers of jobs created are phenomenal going a little bit. so i call it polyurethane, because think about

blackrock global fixed income cio rick rieder joined me now.ou want to be an outdated portfolio manager if you get around that much money. >> is a lot of hard work. it's been an incredible. in rates. >> since last time you came on the show things have proceeded in the direction that you said they would do update us what is your view on the economy can we ended we dodged a recession. >> this far, i think the u.s. economy is most resilient adaptive reflexive economy in the world it's incredible how it just a service oriented economy is different than 20 or 30 years ago. i think the economy is doing better than people into zepeda. the one thing today may be slowing a bit but as i think people have underestimated how strong this economy can be. >> you call it the polyurethane economy and you noted the absolute numbers of jobs created are phenomenal, go into that. >> i call it polyurethane think about how it bends in a just and reflective. if you take shots at the u.s. economy interest rates up 500 basis points local banks and regional strings stres

i spoke to rick rieder and asked about the u.s. and european economic data and the divergence we are seeing. >> europe is slowing. i think you will start to see inflation numbers start to fall. but they are still well above what is normalized inflation in europe. how you think about your interest rate exposure in europe and where on the curve you hold it has to be slightly different set of expressions than in the u.s. because it is a very different economic paradigm relative to inflation. dani: that brings us to our question of the day. do you by the soft landing? we were buying it in the u.s. do you literally buy it or just believe in the soft landing in new york? there is a lot of different data you could look at to assess this. how do you do it and do you buy the soft landing? >> got the print moving in the wrong direction. we have been in a manufacturing recession for a long time. it is also extending to services. everything we have gotten the last two weeks have been in contraction with the exception of greece, ireland, and no