tom: sam stovall is invested, he doesn't care about data from the economy? ying inflation down? do you agree? sam: oh absolutely. we should be at the fed's target by the end of 2024. we see fed funds above the inflation rate which would implied the fed is on pause or would have only one more rate hike in the because starts in 2024. average timeframe should be about nine months on average. jonathan: unless we get some stagflation? lisa: that's the risk people are talking as much. we are back to the banking crisis that will help things along. something is not adding up to me? tom: you and i were talking about this the other day, there is a cadence to studying the markets. one of them is to open barons on saturday morning and read it and with sam stovall's father who we all worshiped at his altar. he was foundational and how we learned about op demonism and equities. -- optimism in equities. you got earnings off section two of the wall street journal. you sat there with the pencil and circled the companies. i think that was revenue, income and chairs. jonathan:

is done raising rates let's go right to sam stovall. sam, great to have you here.kashkari comments what do you think? this follows jay powell on friday taking a less hawkish tone. >> we're of the mind set that the fed is on pause. how we differ from the street is we believe the fed will not start to cut interest rates until the first quarter of 2024. so likely to be more of a traditional pause period of nine months which is the average going back to the late 1980s which be the implication of the difference from the street, but positive in terms of the pause situation right now. >> i want to go to the other big thing that is a market mover the meeting with the president and house speaker today. how do you see it impacting the market today is this uncertainty priced into the market and will it have an impact on the rest of the week >> i think as the two parties continue to talk without resolution, i think investors in a sense, will be on the down escalator. should we the not have agreement by june p 1st, it will become a down elevator. when you look back to 2011, all