andrew hollenhorst put it beautifully.ee a broad-based decline in the pace of inflation it is not going to get the fed's attention. jonathan: that is the story for 2023. some market participants need to work out the difference between 50 and 75. do you think today is the difference between 50 and 75? tom: i am exhausted by it and i was exhausted by it month ago. you look at the makeup of inflation. i will go back to block and tackle, basic stuff, the world of david rosenberg, i will not focus on the financialization debate. jonathan: shelter is absolutely killer. lisa: they have not been rolling out. there are some areas where there is starting to plateau. if you look at 12% or 50% rate increases. tom: did you see home furnishings? the rosenberg subdivisions they come out at 8:30, michael mckee looks at all of this stuff and what i know is home furnishings, they are not. they have one of the beautiful artworks, they look great on bloomberg radio. home furnishings with a stupid number. jonathan: the weakness in the u.s. dol