let's welcome luke hickmore. luke, great to have you on the show.r on friday was two times expectations. over 100,000 more than the previous month. did this report change your view of what the fed does from here? >> no, strangely enough, i don't think it did. there is enough in there to give people who think we're in for a pause from the fed. if you adjust the fact that the non-farm payroll in the cycle means there is a lot of re revision. we look at the household survey and it was a lot weaker. this is phoning up individual households saying are you in a job or not in a job is more accurate in the cycle as well. lastly, the non-farms pointed to a big increase in service sector jobs. restaurants and catering and waitressing rather than knowledge jobs which are a lot less valuable to the economy going forward as well. i don't think it was quite enough to push the fed to raise rates. let's face it, with everything over the weekend, i think they will be on pause. >> luke, this is joumanna here. i want to ask about your take on the impact of the very ma