Bob believes the Federal Reserve is sending a hawkish message, as half of the committee expects rate hikes this year.

Bob disagrees with the strategy of central banks ambushing markets with surprise policy changes, citing the disruptive experience with the European Central Bank.

Bob stated that FOMC member Waller would have made a very good Fed chair.

Rick Rieder of BlackRock believes central banks should overcommunicate when loosening policy but surprise the market when tightening policy for greater effect.

Bob believes the Federal Reserve is concerned about the level of inflation and the CapEx cycle, and is scarred from its 2022 policy mistakes.