don peebls, roger ferguson, claudia sahm and paul mccully.nd we asked them to vote as a mock fed governor would and decide whether to cut, to hold or hike base on their areas of expertise and how they see the economy. and here is their decision. with the exception of one person, don peebles the mock fed overwhelming voted to keep rates right where they are right now. let's bring in some of the members of our mock fed panel now to get them to share on why they voted the way they did. don peebles i'm going to start with you as the outlier, you say cut rates. don't just lee them where they are. explain your reasoning and get the conversation going. >> well, great. the first two reasons why is the consumers, who make two major purchases in their life time, and that's a home and it's a car. they do it with debt. so, up until 1983, the cost of capital interest rates were included in the calculation of inflation. and since then, they haven't. and as a result, we've used interest rates to kind of manipulate inflation. now, let's think, for example, a