What he basically said was, that the FED controls the market and thats why its never good to bed on the negative (in the long term.) I love how he left himself an out with, “could we see 12k, possibly.”
The FED my want to lower interest rates, but may not be able to. Especially if it actually cares about inflation.
There already seems to be a fair amount of capital flight in terms of the yen, if they cut but thats going to ramp up hard and fast. The market will take it in the shorts the end game is the same.
