Richard Lesser:
Yes, it’s very interesting.
Of course, the start of those conversations is always about the high-level stuff, the general economic forecast, inflation, GDP, all that sort of stuff. But then, when you get beyond that, you typically get into three different kinds of topics.
The first topic is just uncertainty. I mean, the tariffs are a challenge, and there’s been a lot written and discussed about that. But what’s even more challenging is not knowing where they’re going to land. And that makes it harder to want to invest. You might want to invest, but it makes it harder to know how and when to invest, whether it’s doing deals or adding manufacturing assets or building infrastructure.
