RUSH TRANSCRIPT Nancy what ░░░░░░░░ you think does that ░░░░░░░░ sense the market reaction ░░░░░░░░ this It does the ░░░░░░░░ number was for a ░░░░░░░░ CPI everyone is so ░░░░░░░░ consensus is that we ░░░░░░░░ heading into a recession ░░░░░░░░ market participants it s ░░░░░░░░ surprising that with the ░░░░░░░░ number we re going ░░░░░░░░ get a good pop ░░░░░░░░ lot of people have ░░░░░░░░ weaning the other way ░░░░░░░░ s good to be ░░░░░░░░ when you see the ░░░░░░░░ they re still incredibly ░░░░░░░░ and the one thing ░░░░░░░░ would remind investors that ░░░░░░░░ inflation expectations are ridiculously ░░░░░░░░ even though we got ░░░░░░░░ slightly lower print if ░░░░░░░░ look at inflation breakevens ░░░░░░░░ re all in the ░░░░░░░░ handle one two three ░░░░░░░░ out The inflation curve ░░░░░░░░ priced to fall and ░░░░░░░░ would be opportunity for ░░░░░░░░ to say look maybe ░░░░░░░░ s a good time ░░░░░░░░ be adding some inflation ░░░░░░░░ the market does have ░░░░░░░░ much confidence that the ░░░░░░░░ is going to get ░░░░░░░░ job done here Nancy ░░░░░░░░ he once fool me ░░░░░░░░ three times previous pivot ░░░░░░░░ starts we saw some ░░░░░░░░ good rallies based on ░░░░░░░░ notion that the pivot ░░░░░░░░ coming Is this real ░░░░░░░░ time is this the ░░░░░░░░ Or is it buyer ░░░░░░░░ We ve seen it ░░░░░░░░ why are people so ░░░░░░░░ to embrace something that ░░░░░░░░ burned them so badly ░░░░░░░░ I think it s ░░░░░░░░ expectations just like stocks ░░░░░░░░ rates markets are about ░░░░░░░░ s expected in the ░░░░░░░░ and the summer had ░░░░░░░░ in cuts in 23 ░░░░░░░░ we re pricing in ░░░░░░░░ hikes.