david malpass, and seema former president, cnbc market analyst kenny policy cari, and jim iuorio. i go to you first, rick. is this forward guidance as dovish as wall street is making it out? i guess that's what wall street liked today. is it that dovish? >> yes, i think it is. very clearly they want to differentiate between the two tools that are being used right now. in particular, the fed has problems with the asset purchase program, because it creates a balance sheet problem for the fed. so they wanted to basically pivot from using that kind of approach to one which focuses on something that's much more straightforward, which is to actually commit to keep interest rates low. >> in my lifetime, will they ever raise interest rates? >> we better hope so. >> they waived the unemployment targets, very interesting, not that the target is such a great thing, but a 6.5% unemployment targets, he basically trashed that, basically gave the message, you know what, guys? my predecessor janet yellen and i agree, we're not going to raise rates until we feel like it, and that's a long time fro

here is jim iuorio. im, one point i want to make right off the top, retail sales a big number this morning. a very big number. heck, half a percentage point at its core. up 6% in the annual rate for the last three months. that feeds into gdp. what does that tell you? >> no, i definitely think the numbers over the past few weeks have gotten significantly better, particularly out of the labor market. that number today we're hopefully giving excuses with the thanksgiving day holiday. but other than that, the numbers have been pretty good. i do think there is concern in the stock market that the taper is coming. now keep in mind, by the way, the taper is not a huge deal to the market. it will grow to live with it. the problem is more of where we stand. we sit in a position where we probably need a 4 to 6% correction anyway. people are bulled up. we haven't trimmed the hedges in a long time. so they're using that as an excuse. an appropriate excuse? sure, i guess so. >> let's look at this now. another factor.