veronica clark joins us from citigroup global markets. she is an economist. give us your initial take on the cpi reaction. i feel like markets are celebrating. are you? veronica: a little bit. we are moving in the right direction and i think the fed can sleep easier tonight relative to the alternative if we had a pick up in inflation. i would be cautious that if we have learned anything over the last year, it is not to get optimistic too soon inflation is coming down. if you look at the details of this report, you are seeing strength in service inflation but also in these non-shelter services. jon: to mike mckee's point, the wording always matters when it comes to the fed chair. as we look toward that fed decision tomorrow, how does he address today's inflation report if it comes up? veronica: i think the most important thing for him to say is the fed's job is not done yet. we had two softer reports in a row but that is not enough data for the fed to be convinced we are getting sustainably back to 2%. we also had a strong unemployment report that is going to b

terminal rate i give them credit with bloomberg economics as well reaffirm that this morning veronica clarke seen this data. to be very direct this data confirms the rate, doesn't it? >> it's a bit interesting to see markets move on a third release of gdp. we have gotten this data a couple times already. they were pretty big revisions. growth number, stronger consumption, you know that solberg you want to see the strength and activity. i think especially the core pce number, markets are hoping to see a softer inflation now and we are not getting it yet. >> what is your interpretation where the temp -- chairman gets a lousy labor market. what is the study you have of the disinflation path forward? do you see a greater disinflation, everything considered? >> i think we will get some overall softer inflation prints in 2023 but it will be because of things like goods prices. we nationals are prices and inflation prices will be softening. but, yeah, you need to seal the liberal market to be convinced that the third compartment will come back down to 2% because we don't see a path for that to hap