The Biggest Issue Is Demand Decay

I think the dynamics that we're having in this conversation about what's a hard landing, it's all relative to to where the fed was and where the balance sheet was. I am one that says, give us a deep and severe pullback, at least in the economy, to counterbalance this dynamic. What i don't feel comfort about is powell, yesterday pointing out that we will go until we feel inflation is at a place where we've got into neutral dynamics. And this is the same fed that in november told you that there as no inflation and that they hadn't hitthe two % target yet. So these are the big issues. Back to the market.