I don't mean this to be political, but when Ron Paul was firing every revolver in Ben Bernanke's direction, there were a lot of people cheering down here, with regard to the only tools the Fed ever seems to use, are the easing tools. And on the inflation front, many traders were reading the subtitles and they went back and checked, with respect to the weaker dollar, it affects import prices but not domestic prices, that's kind of an inconsistency [...] I just think you don't understand the way traders think. Traders don't care about your analysis. They care about making money. And they obviously realize that the only thing the Fed has ever done to solve these problems is to ease, and they're making money. But if you ask these people, do you think you really gonna see a rate cut in December, half the people I talk to say by time we get into December, headline inflation would probably make it so the Fed can't ease.

Policy·Finance·Inflation