plus we will hear from raphael bostic as well of the new york fed.ll with me, rob, scott, and james. scott, what are you looking for from the fed? >> when we look back at the fourth quarter, we knew risk assets had to have some sort of response to a higher interest rate regime. i think chairman powell might have felt he shanked that one of -- a little bit. we are at 1.5% inflation. the term premium is still negative. suggesting a lot of complacency on the bond side, not a lot of confidence in the future direction of policy. he needs to hit something more down the middle and concrete. he needs to be transparent and a little more sensitive about what financial markets are telling him in regards to risk. jonathan: for those not familiar with golf, when you set up to the ball, and it goes pretty much straight in front of you. it is not pretty. have we cleaned up the communication mess? have we gone too far? have we corrected too much of the federal reserve? >> as always here in bloomberg european headquarters, they are looking after me well. i have a nic