let's bring in randy watts the messaging from the fed is one that they are basically not going to do anything for all of 2020 can it be a boring year after the many fire works and u turn >> i think that's what the fed is hoping. 13 of 17 forecast no change of rates for 2020 after that last meeting. i think they believe the 75 basis points of easing they did do in 2019 is sufficient they are going to sit back and see those cuts work their way for the time being >> they expect the fed to be accommodative. he does believe that those 75 basis points worth of cuts were actually substantial and enough to provide a good boost to the u.s. economy do you share that view >> the other two things is first that fed has stopped with the size of the balance sheet. the other thing people will be looking for is the fed repo operations the fed has been providing liquidity to the banks at the short end of the curve that has been providing liquidity into the financial system over the last couple of months >> i want to bring in another perspective. i have another guest on the show here we are talking abo