You're listening to Closing Bell in Progress.

That was Fed Chair Powell following the decision on interest rates.

Welcome to Closing Bell. I'm Scott Wopner.

Let's show you the markets right now.

They have been extending their record highs today

the s and p and the nazdak on track for new closing highs the dao is at the

highs of the session now even as the federal reserve has taken its own forecast for

rate cuts down to one this year from three back in March.

As is customary, we are joined exclusively by Jeffrey Gunlock only today we are live in Los

Angeles with the CEO, CIO, and founder of Double Line Capital.

Thanks for having us here. It's good to see you.

Thanks for coming, Scott.

So what do you make of what you saw and more importantly what you just heard than

big news obviously is the forecast down to one cut from

the three we had in March. That's right I think that's what will be remembered in

this meeting in the in the history books. In past meetings there were new ideas that were brought out.

Remember we had Supercore Inflation was brought at one meeting, there was three month and six month annualized

was brought out.

This one, they actually had to change the,

had to do the SEP, and so they had to adjust things a little bit.

But he was remarkably vague in the Q&A session, basically saying,

I don't know what's going to happen.

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