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Prices and the economy depends on the course of the virus the committee will maintain its purchases or increase to smooth market funding it repeats for the second time that it seeks inflation moderately above 2 . This is a carbon copy of the last statement i counted seven words changed and none of them really substantial or meant to convey any particular meaning i think that reflects the big changes. Jim was saying last time exceeding the 2 inflation goal and theity si itdesire not to mo many waves while the country counts votes in this president ial election. The other dissenter did not attend the meeting due to the birth of his second child. Congratulations to Neal Kashkari absolutely. Well spend half an hour dissecting those seven words what do you think of jims point, which is the absence of stimulus may have put the fed even more under a spotlight to do even more absolutely. I think thats true. I think the fed will feel pressu ....
Theres some interesting things in the Options Market that could keep the market down for a bit of time. I do think people are underestimating, a, youve got a good economy with a tremendous amount of stimulus coming in and i think that will continue to drive the market higher. Plus youve got a dynamic where the fed has made much of the fixed income market on investable with treasury and mortgages where they are today, when you take the earnings yield well into the 4 off next years earnings that is a pretty attractive asset class and i think it will propel the market higher so election uncertainty doesnt matter much in the near term stimulus talks, negotiations may not. How does that factor in . Its a big call that you make. Youre the one that suggests in our notes today that it mossably could happen or at least start before the election. Yeah. I mean, so listen, the election the election does matter i think what people have started ....