The Fed Has Gotten Its Credibility Back

I'm almost stunned to hear you say what you're saying. It sounds i gunlock is essentially saying that the fed has gotten its credibility back. I think theyre a local high, if not an all time high, in n j powell's credibility. The transitory thing, i think people have beaten, everybody in the government up etough about the transitory thing. But bu look an a longer term, i think valuations are pretty good. There are parts in the securitise market, in bonds, where there realistic returns of 11 and 12 % even if you go into a moderate recession.