they did it to paul volcker, did it to alan greenspan, '87, for better or for worse, from our perspective for worse, they challenged ben bernanke and his team a few years ago. i've got every bit of confidence she's going to realize that being chairman is, frankly, very different set of responsibilities than being a governor vice chairman where most of us get to chatter from the cheap seats, she's got to make the tough decisions. >> and yet, you've been concerned about qe and what the fed's doing. you've been concerned for some time. a lot of people think she is even more dovish than bernanke is. where does that get us? >> right. so it's easy to think on a hawkish dovish spectrum. and there's no question she believes in the efficacy of the fed's tools even more so than chairman bernanke. i don't think she's more dovish than ben. i think the biggest difference is in some sense that she really does believe very much in the models and in a model centric view of the economy. >> what does...