The Fed's Expectations of Inflationary Readings

markets see what they want to see that's fine but again the unemployment rate is sticky as hell and that's say it's a lagging indicator yeah maybe. The credit contraction continues NFIB survey shows the credit conditions are tightening for small businesses and tighter than any time since the aftermath of the financial crisis. If these guys are less optimistic then that's going to weigh on just economic activity in general right so I'm not about it you shouldn't be paying a premium multiple for the S&P 500 in that environment.