The Fed's Approach to Recession

The Fed is trying to exit an unprecedented period where they, you know, pulled out all these new measures and they really weren't sure how to get out of them in the wake of the financial crisis. So that's why the effects I think are a lot shorter than people think and you see it now. The risk build in the other direction where they have to play catch up. That could become a very problematic thing for the Fed. There is just zero evidence that that's going to happen.