Let's get down to the MFA Network Conference in Miami, where Leslie Picker is sitting down with Citadel's Ken Griffin.

Let's listen in live.

Well, thank you very much, Ken.

Thank you MFA and Brian for hosting and for allowing us to have this conversation.

We were saying before we came on, this is such a good day to have this conversation.

You've got the S&P 500 at a record high yesterday, kind of, you know,

mixed picture today. But in September, you said that you're anxious about the markets, that it was

kind of in the seventh or eighth inning. Are you still feeling that way? Do you feel like things

are kind of too expensive at these levels? So first of all, welcome to Miami.

And I know Leslie's very happy because it's 70 and sunny today.

Yeah.

So it's a good day to be here to talk about the market, which is reaching all-time highs.

And we do look like

we have put some of the economic anxiety of Q4 behind us, good payroll numbers, good GDP growth,

and most importantly, inflation is moderating at a pace that's frankly better the market

anticipated. We may get Goldilocks. We may get a soft landing or even no landing. We may be looking at a

moment in time where inflation this year is low twos. The Fed can start to cut rates come this summer, and we will see unemployment touch up a little bit, but the overall economy looks pretty damn good

right now. And I think this is a real change in mindset from where we were September, October

last year.

So you think essentially mission accomplished, no more rate hikes, because I know you kind

of left open that possibility in the fourth quarter that there was potentially another rate hike to come I think there was a possibility at the

start of Q4 last year that we could see another great hike and now you feel like

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