however, the marc istook that, my god, inflation is going the other way. you have to respect that inflation, the fed can be more patient and start in may or june. i still think they will get 75 basis points this year. two weeks ago, the consistency in the market -- consistent -- they can be patient. you have to have respect for the number we have to watch the inflation numbers. if you take the long-term trend, inflation is coming down , service level inflation remains high for a bit. >> on economic growth, the atlanta fed number was a snapshot and still looks good, up 2% over the first quarter with some noise in retail sales, a giveback from a strong december. so hard to tease out what is genuine weakness or a new trend , and what is a return to some kind of normal activity. >> we are having an outbreak of normality. if you think about where we have come from, go back to 2021, gdp of almost 12%, 7% plus in 2022, 5.5% last year. 4% nominal gdp, going back three decades, before covid , that is a normal rate of growth . when you parse the numbers and say, ret