we're discussing the fed and still fragile economy is nila rich son, and peter cardilo, and bartlet nailernila, yellen was pressed on her understanding of why the labor market participation rates are so low, where she saw inflation coming in the coming year, there is a lot to handle. there are some things she has to be watching closely because she and her fellow governors have some decisions to make. what are they? what is in the pipeline? >> i'm going to guess it's not the obamacare enrollment numbers. i think what they're going to be looking at is the labor market, first and foremost the sticking point in the u.s. economy. the under employment rate, the number of people who would like to work full time and can't find a full-time job are far too high. participation levels are 1978 levels right now. and even though that unemployment rate is coming down, it may be coming down for reasons that are not good, people are giving up, retiring prematurely. all of these factors have to be taken into account as the fed decides how to taper. >> peter, there was a lot of back and forth over the labor