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First, we start with the fed officially standing pat, so we asked the question, steve liesman, is the fed on hold forever . What do you think . I dont think its on hold forever, but i can understand why you would ask that question. I think the story here is that the fed probably not going to move in july. I saw a ubs headline saying, take the summer off. We are. When it comes to at least whats going to happen to fed policy. Janet yellen and the fed keeping the rates on hold today, and not suggesting any big hurry in terms of hiking Interest Rates. But the big story today is what they did to a their outlook for rates over the next several years. And they brought them down quite substantially. We suggested all day, including yesterday, that that was probably what the fed would do today. I have to say, i was somewhat surprised. When you look at the chart of what the fed now says its going to do with Interest Rates, look at the last five meetings. Now at just 2. 4 for 2018, that had been a

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