>> the market is concerned about what jay powell is concerned about. the market perceived that to be wage inflation if we see that 0.3% number, a big rebound from february, you could see jitters that show up in the stock market and the bond market all eyes will be focused on wages. there's clearly a lot of noise in the numbers will we get another 161,000 construction jobs in march probably not another 50,000 retail jobs created? absolutely not consensus should be where we come in. but the focus will be on wages >> do you agree with that, david? >> that's where the focus probably is going to be. the question i would ask is whether or not it makes sense. there's so much emphases on wages leading prices actually, when you do the analysis and look at past periods of stagflation starting in the '60s, '70s, early '80s, prices led wages