joining me now is brian weinstein and greg daco. welcome to both of you greg, do you really think july that's six weeks from now. >> i think there's still a possibility they will adopt easing cycle in july the reason is essentially you still have disinflation momentum in the pipeline. you have easing, demand growth, consumers are being a little more cautious with their outlays. wage growth is moderating. you have an environment which there's still further represent disinflation to come through and then you have stronger productivity growth. we're not too far from 2.5% when you look at pce gauges, headline and core are moving in that direction. i think that will be a signal for the fed to consider easing monetary policy gradually, very cautiously but i still think that a july onset is a possibility >> they usually like to telegraph their moves. do you think that's what you've heard? >> i think there's a risk here that we may see a delay in that call the most recent communication from governor waller in particular stating that the ons