The job market was lousy, now it's been upgraded to good.

You can see this clear, ongoing deterioration. And what's scary about this is it's still accelerating,

Home sales have remained surprisingly strong despite higher interest rates.

Housing is as strong as ever, and the mortgage business is as good as ever.

In today's market, everyone is a Fed-watcher. Hopefully we will not lose any transparency and will lose some of the volatility.

The yield curve is a really powerful indicator. It always has been. The shape of the curve still matters.

Economists were expecting that the Fed would either remove the warning about asymmetric risks toward inflation or judgment that further tightening might be necessary. Of course, the Fed did neither.

It's nice to know that the Fed is taking (exotic home loans) seriously,

It's the same tone that he took in his testimony two weeks ago.

It's a big surprise. There has been plenty of anecdotal evidence of regional weakness, but none of the national numbers have shown weakness.