romaine: still with us around the desk, lumber across asset reporter luke kawa, and dan suzuki. fedou have any hope of the that they could do something that could change market sentiment? dan: when you look at what is priced in the market, there is sort of 2.5 cuts. i think that is the issue, the market is already pricing in good news from the fed. historically, when the fed starts cutting rates, it has usually been too late to the game. by the way, there are only six cuts left that they have for whatever the next crisis is. joe: one thing is that the market is screaming for a rate cut. also that a rate cut would not do anything in this type of environment. is there something that they feel could be constructive from the federal reserve? >> i think they are putting on the same playbook, which is that .hey will be preemptive rhetoricric -- fed since then is, we want to be proactive. the only real place where i think the fed could help is sending another message to say, you can have two proactive rate cutting cycles without a recession. still very bullish on the u.s. economy. then

dan suzuki with us, chief investment officer. dan, if somebody had the cash, and a strong stomach, do you recommend they buy anything with the dow down 630? >> i don't advise people to really market time. the history of the markets show that trying to market time these things not a good idea. if you're underinvested, you should probably invest more and continue to invest and not change your strategy not panic sell. similarly, if you think about coronavirus itself probably overpriced into the markets with the market down over 10%. stuart: you think we've gone too far? >> just the coronavirus itself. the problem, the macro backdrop wasn't that strong to begin with. i've been on the show talking about this. if the market can go down in 2018 trading 17 times, earnings growing 25%, what is to say it can't dough the same or more when market at 19 times and earnings growth is basically zero? there is a lot of risk out there. the macro backdrop is not that strong. policymakers used up a lot of white blood cells last year fighting slow dow