Group 1 - The article discusses the bullish outlook on the stock market despite Fed Chair Jerome Powell's comments on high valuations, suggesting that different perspectives on valuation exist [2][3] - The positive earnings outlook and favorable investment horizon are attributed to recent policy changes, including deregulation and tariffs, which may not be fully accounted for by Fed models [3] - Concerns are raised about the restrictive nature of current monetary policy, indicating that further adjustments are necessary to support interest rate-sensitive sectors and the labor market [4] Group 2 - The upcoming meetings of the Federal Reserve will involve new members who may adopt a supply-side perspective, differing from the previous groupthink that has characterized the Fed [7] - The potential for a shift in monetary policy is highlighted, with a focus on the need for a more balanced approach rather than purely risk management techniques [5][6]

Joining us now for a look at the US economy and the Fed, Larry Lindseay, president, CEO of the Lindsey Group, former National Economic Council director. He's been mentioned as a possible uh Fed chair nominee. Uh it's been a while. Uh Larry, it's good to see you. >> Good to be here.>> You worry, and we'll just talk near-term about uh about the Fed. You worry that perhaps like uh 2024 that if you cut on the short end that might not be translated into lower rates on the long end might actually be uh actually c ...