Absolute madness on this Tuesday, November 15th, because it's not one o'clock Eastern time.

If you're looking at your clock, you're like, what the bleep?

No, on the open, market call, Guy're like, what the bleep? Nope, on the open,

market call, Guy and Tommy, Dan Nathan. Today, we're sponsored by FACSET, financial data and

analytics that are powered by tomorrow. We're powered by the early morning action here in the market.

We figured, why not? Let's do this on the open today. Why not, guy? I mean,

listen, here's the deal. Okay, you know, we spent a lot of time 2021, you know, kind of parsing through

what the word transitory meant, kind of figuring out, you know what I mean, whether was that weeks,

was it months, was it years? Was it what was it here? And so the irony of this whole thing. And you know, I, listen,

I'm a big mean reversion guy when it comes to everything that I've seen in the markets over

my 25 year career. And so I always thought that was a bit silly because, again, whatever you

thought the definition of the time, you know what I mean, that the Fed was was kind of putting in

place when they were saying that

inflation is transitory in 2021.

I think that today's PPI reading, last week's CPI reading, if we had a string of those

sorts of things, we had the unemployment rate going up a little bit, well, then it was clear

that it was transitory.

I think the mistake that you would agree is that the Fed just kind of kept the

pedal on the metal for too long. You know what I mean? Like as far as all of the easing, why were they

buying $40 billion of MBS? You know what I mean? A month last year. Yeah, no, it's interesting.

Look, I mean, when they said transitory, and I'm not, you know, reading into their words, but they didn't think it was going to last years.

I think they thought it's going to last at most months. So, you know, they missed the boat on that. Remember, it's the same Fed that we're not even thinking about thinking about raising rates. And they're the same ones a couple of weeks ago that basically said we're thinking about thinking about lowering rates. So, I mean, they've screwed the entire thing up.

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