00:00I love his commitment, once again, to the 2% inflation target, reiterating that that's something the Fed is laser
00:06focused on and not backing away from.
00:08And I think, you know, you're seeing this sort of stability in the equity markets because we got what we
00:12needed from this speech.
00:14I think he made some very important points about the framework of monetary policy.
00:17I think he made very important points about forward guidance and how he's thinking about it.
00:23So I commend it because I think it was a real speech, a real substance.
00:26I think as people are looking at this inflation data, it is not turning in the direction that the committee
00:31had hoped.
00:32It is continuing not only to be sticky, but to press forward.
00:36I think we need to put some restriction into policy. And so I believe it's time to act.
00:40I think the work to do quote that you mentioned is the money quote.
00:44And I think that it delivered the reaction that the chair wanted.
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