The Catalyst for the Fed's Downgrade

It depends on evidently where the hot concerts are this summer because I did not realize that Taylor Swift made it into the Feds beige book. There's a lot of big concerts and when they're coming in, they're lifting local economies. So people are still spending on that. They're still spending on services. We've been through downgrade before back in 2011. The stocks were in 2011 stocks were down about 20% from the highs. It was nuts.