The Fed's Choice to Revise Their Inflation Target to 2% to 3%

The Fed kept interest rates at zero for a really long period of time, forcing investors like us further and further out on the risk spectrum to find replacement assets. The reality is that's how you got Ubers and Netflix and all these sort of formerly unprofitable companies now that are extremely profitable because they were able to grow their size of their business. Darius: I think we've left that world; from an interest rate perspective, I struggle to see how the Fed will ever be able to take interest rates back towards where they were in that previous regime.