Welcome to overtime. I'm Mike Santoli. Scott Lopner will join us shortly with an exclusive interview with double lines Jeffrey Dunlock. Here his first reaction to the Fed decision. We also have earnings coming from Qualcomm, Robin Hood, and others.

We will get to them as they filter in.

But we begin with our talk of the tape.

A post-fed sell-off after Chair Powell says the tightening campaign still has quote

a ways to go even if the pace of rate hikes eventually slows. Stocks down

buying yields up a bit as investors back away from bets on an eventual fed pivot.

Let's bring in Riddhull's wealth management's Josh Brown, Josh also a CNBC contributor.

So Josh, you know in a sense this is a consistent message we've gotten

from Powell. Maybe you had a little bit of a faint from the formal statement by

the FOMC talking about the lag effects of what's already been done in terms of

rate hikes. Where do you think it leaves the market here? We S&P kind of backed off

to where we were let's say 10 days ago on the on the press conference.

One of the things I've been talking about all year is how absurd it is, on the one hand, to be enduring 75 basis point

weight hikes month after month and then be rooting for a

dovish pivot that really is not going to do anyone any favors why would we want to

prolong what is essentially has to be done at this

point?

So I actually think the Fed did its job, not that they're asking me.

One thing that should be obvious to anyone who's been paying attention,

the market really doesn't like it when the two-year yield starts to trade like a penny stock.

Take a look at that intraday action in the two-year yield.

Before the announcement, you're at 4 spot 5-5, okay fine,

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