 All right, is there more pain coming in the technology sector after Friday's sell-off? Let's ask Scott Clemens, chief investment strategist at Brown Brothers Harrowman. And Scott, the Nasdaq falling almost 2% on Friday. All of our favorite stocks, Apple, Amazon, NVIDIA, Netflix, some of the fang, you know, the fang stocks. The usual suspects. The usual suspects, all getting slammed. What happened here? Well, first of all, let's put it into a little bit of context. The Nasdaq has done so well for so long and indeed established a new intraday high price Friday morning. So this is just a reminder that volatility necessarily accompanies this sector and that volatility is heightened by stretched valuations. It doesn't mean that things are going to go bad. It just means that it doesn't take much to heighten that volatility. That's what we saw on Friday. It'll likely continue into the early part of this week as well. And we should also point out to your point that the Nasdaq is still up 15% so far this year, which is much better than the S&P 500's 9% rise. Stocks go up and stocks go down. It's hard to believe in this cycle. Exactly, exactly. In terms of the Federal Reserve, we obviously have a meeting this Wednesday. We think there'll be a rate increase. What other kind of commentary should we be looking for from the Fed? It's sort of both the news of the week and the not news of the week because there is, according to the market, a 95% probability the Fed raises interest rates again this Wednesday. That's not 100%, but it's pretty close. We'll watch the language closely to see if there's any indication about the appeal of future rate increases or if there's any further information about the Fed's desire to begin unwinding the size of the balance sheet. And when you look at financial conditions, especially the Goldman Sachs Index, which accounts for this kind of stuff, it's at the loosest point since early 2015. And that's with three rate increases over the past year and a half. So what does that tell you about the Fed's ability to manipulate the economy with interest rate increases? I think it gives the Fed a lot of headroom. They have the ability to raise interest rates not only this Wednesday, but in my opinion once more this year without derailing the economy precisely because conditions are so easy, as measured not only by the Goldman Sachs Index, but a lot of easy to observe things as well, just the level of markets for one, strength of the economy, the fact that unemployment's been running with a forehandle now for over 12 months. Falling 10-year yields. Falling 10-year yields, easy monetary conditions everywhere, gives the Fed the ability to raise interest rates. I think they'll take advantage of that not only this Wednesday, but once more before the end of the year. And does the loosening of financial conditions, despite the rising interest rates on the Fed side, does that allow the Fed to overlook some of the weaker inflation data we've seen in the recent months? I think it does. I think the Fed, the Fed would worry if the inflation statistics were headed lower. They're not. The level isn't quite where the Fed would like for it to be, but they're headed in the, quote, right direction. They're headed to a degree where the Fed worries less about disinflation or deflation, it feels like they have the ability to establish more normal monetary policy. And the Fed is also watching overall broader markets. I mean, what is your take on where we are in stocks, not withstanding this sort of bizarre sell-off in tech stocks? Well, the Fed certainly pays attention to global market conditions. A one-day sell-off, a two-day sell-off, I think does not sway the Fed from its course. It would take something a great deal more disruptive than that to factor into the Fed's interest rate calculations. But it's something disruptive coming this summer. Well, you know, the summer is always a difficult time because it's a period in which they're typically lower market volumes. Combine that with how well the market is done this year. And again, that doesn't mean something bad's going to happen, but it does mean the market is prone to overreact to even the smallest external stimuli. I think of it as a critical state theory. If you and I built a pile of sand on this desk one grain at a time, at some point one additional grain would cause the pile to shift. A house of cards. Why would the pile shift? A house of cards. Not because of the additional grain of sand, but because of the state of the system itself. And I think summers lend themselves towards that analogy. All right. We'll be watching it all. Scott Clements, thanks for coming back with us. Anytime. All right. We'll be watching the street.