jonathan: joining me today is global management, hickmore, andke priscilla hancock.uke, welcome to new york city. let's begin. the consensus view is june there will be a move. luke: and i guess when the next one is. june is baked in. markets are adjusted for. if we get september, that takes us to three next year. that means we will talk about the number of rates next year. jonathan: this feels sequential, every other meeting with a news conference despite the data not because of it. what is your view on that? mike: i think it is because of the data. i think there is strong enough information in this job's number and the jobs numbers we have had for the last year, the fed really wants to remove the extraordinary level of accommodation they have given to these markets. they want to be a buffer in the event that things get weaker in the future. they have no room to do that now. we think there will be hikes this year and next year. also tapering, that is something that is not top of mind for a lot of people. we think the fed wants to reduce the balance sheet. jonathan: t