for more on the story, the economy, and the market impact, let's bring in ken stern, the economist over at wolf research. thank you for being here. we will start with you, because you're sitting right in front me right now. the whole idea that we are trying to put context around this particular bit of fed minutes, given the bad inflation we saw going into it and the decent one that we have gotten since then. the markets are reacting measurably to this. that's probably the right thing. do you feel as though this is a situation where the fed is on the right path? >> i do, the fact is, let's take a victory lap for a minute. we had 11 rate hikes. we are in an election year. we had bank lawyers in the last 12 months. here we are at all-time highs, this is a climbing the wall or story here. i think rates are going higher as the probability? no, do i think rates stay the same or go lower? yes, that is the probability. let's find opportunity. there is quite a bit to liken the market today. >> stephanie, this is an interesting point. this is an environment where there is uncertainty, not just ri