and james bullard continues his tour of asia. let's get a couple final thoughts.ve had a really impressive run here for equities and i have to ask taking the other side of the coin, are we due for a correction, shallow or otherwise? >> i don't look at a catalyst that will push us down significantly. i think it's more of a breather. but i would take advantage of that situation, look for those opportunities to really try to deploy more cash. but i would leak moreards q3 versus right now. >> ian, you also get in the short term despite your long term bullish call. and chip talked will about catalyst. >> three main catalysts. economists have started to revise up their numbers so much that beating expectations. so we don't do that then we'll drop back again because accep sentiment is close to record highs. and finally, risk positive, risk on trades are dominating. normally it's always reversed. so we say watch out short term. >> and how long is short term? >> over the next month or so. a number of factors could take off the edge. >> so i'll have the final thought here w

. >> senator vitter, we've had on our show in the past jim bullard, the st. louis fed president.e was on just last week once again. he has talked about oil prices, other commodity prices, how he believes that could be in part because of the quantitative easing that we've seen. >> right. >> he doesn't say in full, he says in part because of that. >> right. >> what would you like to hear from ben bernanke on this point? >> i'm just going to ask him to acknowledge those negative impac impacts. there are clearly impacts to this policy of zero interest rates, including increasing commodity prices, including the price of oil, and just like the governor said, that's not the only issue, that's not the only factor, but it is a significant factor, probably one of the top three, so i'm certainly going to ask him about that, because that does impact growth, the economy, and in particular a lot of people on fixed incomes. >> senator, we're going to leave it there but thank you for joining us this morning. >> thank you. >> good luck with your questioning later today. >> thanks. >>> when we com

i want to thank mike bullard of san francisco architectural heritage. we have not always agreed, but it has been very productive working with heritage. spur and the historic preservation commission. a lot of people have had input in these amendments, and i look forward to seeing the move through the process of the board and seeing them passed into law. the rest i submit. supervisor chu: submit. supervisor campos: submit. supervisor olague: couple of hearing requests. colleagues, i would like to introduce a resolution to create a local summer jobs-plus plan that would create a young -- connect a young san franciscans to summer employment. i would also like to thank supervisors campos, avalos, and kim for cosponsoring the legislation. the board of supervisors adopted a resolution sponsored by our colleague, supervisor elsbernd,

. >> bullard, too. >> right?and yesterday i asked him when does the participation rate ever come back to haunt these numbers because got it so quickly. do you think they will come back? >> there's a strong demographic story. it was actually higher than demographics would have suggested. there's a little bit of a catch-up going. so there's reason to believe what you are seeing in the numbers is probably going to stay. the participation rate by the time you go from sort of the up to 55 into the 50s and 60s drops by half. from 80% to 40%. it's a much more powerful move than a lot of what's happening with, you know, in terms of coming out of the labor force. >> from 9.3 to 8.3 happened so quickly. surprisingly you would think the next point is much harder. >> i think that's a fair point. >> i actually think it may go up higher. who knows, though. >> i would have never guessed. >> the first couple where we went, those weren't expected, those big drops. we'll get it back next month and they continued. >> and that was r

meantime james bullard is arguing the fed should be worried about overcommitting to aen ultra easing monday tar policy. i think they already did this. he said it could be detrimental down the line. he suggests the current policy is a good time to take stock of whether it is at a turning point. william dud sley is endrsin indg a global push and oversight should be coordinated among international regulator this is an attempt to make financial markets safer. he argues derivative clearing houses must be bulletproof to avoid another financial crisis. i think the issue of turning point is kind of interesting when you think about where the market is right now. we don't have a catalyst to move higher. >> we're looking at the first declines after nine quarters of gains. granted this won't be a surprise to people, but it's not clear we'll get lot of positive headlines out of it. >> the other thing we're facing is this question about global growth which we sort of know was out there and i guess it was last week we traded up on the idea that china wasn't slowing as much as we thought and how we'