Cox Automotive chief economist Jonathan Smoke is not only passionate about the financials that make the automotive industry and the economy function. He’s also passionate about music; so much so that he’s a DJ on the side.

On Friday, Smoke merged his two passions together, compiling a list of 24 songs expressing his sentiments about what the Federal Reserve might do with interest rates. Policymakers have their next opportunity to make a move on Wednesday.

“I’ve assembled this playlist of great tracks reaching all the way back to the 1950s that help explain the circumstances and dynamics we face as the Fed tempts fate by raising rates to vanquish inflation that is already coming down — while banks are failing, and manufacturing and housing are already in a recession,” Smoke said about his efforts titled, “Don’t Stop the Music, An Ode to the Fed.”

Among some of the selections:

“Don’t Stop the Music” by Rihanna, of which Smoke said, “After the biggest one-way move in the Federal funds rate in a single year, the Fed has continued increasing rates, albeit at a slower pace, with quarter-point increases in each meeting this year. That included the most recent raise in March when it was unclear what was happening in the banking system. A key concern remains that, at some point, the final straw will break the camel’s back.”

“Money for Nothing” by Dire Straights, of which Smoke recollected, “Let’s roll the clock back to 2021. The Fed was uber-patient while stimulus flowed and goods price inflation was apparent. Dire Straights’ hit from 1985 reminds us of what characterized 2020 and 2021 and really most of the last 15 years: free money. Violently shifting the economy from free money to no money in less than a year is a recipe for breaking things. Silicon Valley Bank was a perfect example.”

“Ain’t No Sunshine” by Bill Withers, of which Smoke acknowledged, “We are seeing credit tighten in response to the banking stress on top of the Fed raising rates and shrinking its balance sheet. When credit is gone, ain’t no sunshine.”

Smoke’s complete commentary and playlist can be found via this blog post. Or if Spotify is your digital music provider, you can go directly to the playlist.