The Fed's Back Into a Corner

Since 1950, the S&P 500 has fallen eight or nine times by 25% or more. In each instance, going three, five and ten years out, the market was higher. So yes, we're unclear of the bottom, but once that threshold has been pierced, that often is a long-term bullish. But what I look at ahead with not just the pressures on the Federal Reserve, but I think there's another risk that to a couple of other things we should talk about in terms of the high volatility.