As is often the case, we are navigating by the stars under cloudy skies. In such circumstances, riskmanagement considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks.>> So that was Fed Chair J. Pal back in August of 2023. Now, the proverbial cloudy skies are even cloudier as the Fed is trying to navigate a December meeting without key economic data because of the government shutdown.Let's bring in Crescent Chief Inv ...

What's being priced in. I mean, essentially, any time we get clarity, people say, oh, that's priced in. But the clarity is different every single day, whether it's the clarity of what kind of rate we're talking about with tariffs or the clarity of how big the US deficit is going to be, All of these worries that we had earlier in the year that are now being shrugged off as priced in, how do you determine between rational versus numb.I think it is entirely rational because when we look, for example, at what i ...