for consumers about oil and gas prices? yes. lots going on in oil space. the initial knee jerk reaction is that ti and brent are up about 2%. so wti is trading south of $82. the worth pointing out that we re about 40% lower than where we were at the peak of the russian invasion into ukraine. and you would think because of the geopolitical tension and because of the cutoff of supply we ve seen from russia that oil price was continue to trend higher. but that is not the case. traders are very much focused on the demand complex here. the fact that global economy is coming under so much strain. a lot of the economies are going into recession which hasn t helped at all from a demand perspective. i just want to say one thing about the price cap. it is significant that the g-7 and the eu manage to agree on this $60 per barrel price cap. the question from here is how russia responds and whether they
overleveraging of corporate america. the reason why the fed needs to unwind its balance sheet and raise short term interest rates is because a, the economy is improving and number 2, you could have asset bubbles. we should not be incentivizing corporations and individuals, mainly corporations because they went on a debt binge to borrow more. neil: he s not worried about that. are you? i think what has changed in the last six weeks is what happened at general electric. in the blink of an eye, nobody cared that it was trading south of $10. when their bonds went to 80 cents on the dollar and started trying like a junk bond from mike milkin s day neil: what she s saying, the federal reserve was guided by the markets and responding to the markets. i didn t think federal reserves