"Entonces, con su cartera o con su análisis de la economía general de EE. UU., esperaría tasas más bajas en el futuro, no tasas más altas." "So, with your portfolio or with your analysis of the overall US economy, I would expect lower rates in the future, not higher rates."

… So he's going to go from a dove to a hawk and then straight back to a dove again, which would make a lot of sense. Because the fact that he's going to be proven wrong would be extremely consistent with what we saw from Ben Bernanke, Janet Yellen, and Jerome Powell. Remember, inflation was supposed to be transitory. So, with your portfolio or with your analysis of the overall US economy, I would expect lower rates in the future, not higher rates. Now, a lot of you may be saying to yourself, "Well, that's great news." But, then what you have to do is you have to realize what lower rates tells us about the overall economy. And that usually means the economy is getting worse. It's not getting better. But, just to make sure that all of us right now understand exactly what we should expect from …