The Importance of Institutional Oversight

Dr. Dudley said the fed missed the effect, the slew, the Newtonian rates of change of the interest rate movement. The Fed increased interest rates aggressively from zero to five but they weren't front loading. Because they had to catch up, you've had this rate shock. We got negative 0.6% on the S&P TK in the bottom up. But two years right now, 388. equity is a good way.