surpassing estimates on both the top and bottom lines. Additionally, the company has authorized an up to $1.0 billion share buyback program for investors.
The Russell 2000 though, is falling pretty much in line with the S and P 500 guess what volatility is ticking back up as well as we see this selling.That's right, Julie, it was only yesterday that I was noting that volatility actually bottomed a few days ago and it's been trending up even though on Wednesday or excuse me, Tuesday and Wednesday, we also had stocks large trending up as well.
So when rates come down, bonds typically do better than cash, we're looking at starting to move some of that cash into diversified bonds and you don't have to time it.You can just start moving it step by step.Let me ask you about the big event this week that, that so many investors have been focused on is tomorrow morning, Jay Powell Jackson Hole.Markets are pricing in three even four cuts and you know what Powell wants, I think he wants to satisfy the markets.
I say Sebastian, I reached out to him yesterday and there's a lot of um potential differences in the financial sector. And in his words, he was saying, listen, great company but in a very tough spot here, you know, tough, tough market, tough backdrop to be operating in well. I, I do know some on the street, Julie were actually already kind of looking through this print and they were more interest in the company's uh analyst day next month.But um interesting, interesting reaction so far.Uh jewelry, obviously friend of the show.
And while many grocery chains pass along these savings, others still aren't look, I know most businesses are creating jobs contributing to our economy and playing by the rules, but some are not.Democratic presidential nominee Harris has vowed to enact the first federal ban on price gouging here with a closer look at the narrative, higher food prices.That's the definition that against price gouging.
Thank you so much for being here because um I think much of the economist community says having laws to control prices is not a great idea.And so I really wanted to get your take on this and I would start with, maybe I'll start with you the same question that Josh asked Rick a few moments ago, which is how do we define price gouging?Basically price gouging is a situation of excessive pricing that occurs in a situation of emergency where for some reason, supply or demand is not elastic.
So obviously, we had our natural disaster emergency in the last few years in the form of the pandemic and all of the sort of knock on effects from that now that inflation is coming down is is that over is the inflation shock over the inflation shock that we have seen is certainly easing.I think the idea that we are going to go back to the kind of stable pre pandemic times is rather unrealistic.it's no longer an issue of our Children and grandchildren.
But if there's a shortage and they can actually increase their profits while the shortage prevails then the shortage is kind of good for the bottom line, which means that the interest of the public of stable prices, the interests of ordinary Americans to have affordable goods and services is not aligned with the interests of companies.So basically, I would argue that we have seen the prices of upstream stuff.
So that at the end of the day, from this initial price explosion to a hand down of this price increase by the food processing companies all the way to the grocery store. It's much better to have the FTC have the sources that they need to go after those bad players that act badly, which is not everybody, but there are always some, you need um, uh laws in place.Um And, and, and this is just a matter of protecting ordinary Americans, protecting consumers so that they don't have to pick up the bill when there's another emergency, Isabella.
Well, and we, as you said, there's a lot, we still don't know, will it cost more if you choose the cruise option?I mean, you've got way mo in some cities like what's the land?
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