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What's the Fed Saying Over and Over Again?
Hank Smith Chief Investment Officer at Haberford Trust based in Radner Pennsylvania joins us on the phone from there this afternoon. He's very encouraged by Fed policy because they are taking their inflation mandate seriously. Small caps and mid-cap stocks are selling around 13-14 times earnings so we don't think valuations are headwinds. And then finally investment sentiment really hasn't been this bad in decades. That's hard to believe that it's even lower.