S&P 500 - Is the Market Trying to Piss in the Wind?

The markets are targeting 5% unemployment and I think that's their bogey. They're up against a very tight labor market which he discussed in his Q&A yesterday. The base case scenario is a soft landing sort of like mild recession but the stock market doesn't discount that this year right now. Let's let things get a little bit ugly it's already been a crappy year and a lot of different risk assets. Why is the VIX only 23 guy? It was trading 25 the day before the CPI period. If they were gonna break about they'd go straight to that August high.