ron insana is a cnbc senior analyst and commentator, also the chief market strategist at dynasty financial partners, and mike bailey is director of research at fbe capital partners. thank you for both being with us. ron, let's start with the biggest picture now, this markedly was one that maybe some people expect because, there are quote unquote seasonal factors at the end of every year that make it kind of a positive time for the markets. but, a lot of people did not call the massive rally that we saw for the balance of 2023. what gives, can hold? >> feds talk, period. i mean, i can't identify any other reason, is not like they are raising guidance on earnings and such a dramatic fashion that you will see the market rip on that basis, or there's anything else going, aside from the economy following into recession, really underlying this, dame, and i agree with this on cnbc.com today, all measures of inflation are moving towards the feds target, far faster than anyone had anticipated. you take today's core pce over the last six months, it is annualizing at 1.9% rate. what else do you need?

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