Welcome to Overtime. I'm Scott Walker. You just heard the bells. We of course here at Post 9 are just getting started on this busy Friday in just a few minutes.

I'll speak to Morgan Stanley's Mike Wilson and Quadratics Nancy Davis on where the markets go from here and how much more

volatile things could really get. We all want the answer to the same key questions.

Does it get worse in the days and weeks ahead or have stocks come down enough to stage a powerful

rally?

It's a hot debate.

We will have that right here on this program today.

We do begin with breaking news.

Our talk of the tape and today it's from David Tepper, the legendary

hedge fund manager telling me during a conversation a short time ago that the

turmoil in the market is not simply because of Fed tightening, but the uncertainty the Fed itself has caused.

Mr. Tepper telling me, and I quote, Central Banks have a little bit of a credibility problem.

Taking the optionality of 75 basis points off the table was an unforced error the Fed didn't have to do.

The Bank of England making a similar mistake the next day caused the market to become a bit unhinged.

That is a direct quote on the record from David Tepper as he takes stock in what happened

this week and why and where we may go from here.

Let's discuss with Solis Capitals, Dan Greenhouse.

He's with me right here at Post Nine, our senior economics reporter Steve Leisman

alongside as well.

Steve, I go to you first.

Your reaction to what Tepper says,

do you think that the Fed really hurt itself

...