If the Federal Reserve board doesn't cut interest rates, I think we're looking at a 300- maybe even a 400-point drop in our stock market.

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There is such tremendous consensus in the markets that the Federal Reserve will not move rates.

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Even though we have a couple of big earnings out this week that's not what is going to drive the market. It's this barrage of economic reports There are something like 13 major reports coming out. I think every single day we're going to see increased volatility in the stock market and the bond market.

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