christopher marangi there. i note, is going to miss this conversation.ou imagine how messy that could have been in terms of sports? lisa: brutal. jonathan: let's talk about the risk in this market. the risk has predominantly been in the upside one. but we also talk about the downside risks on this program. i think for the economy, that is a risk, that the labor market recovers more quickly than the federal reserve expects. i spent some time catching up with -- and we talked about this. if the federal reserve is being conditioned by the lifecycle, the lessons learned of the last cycle and applying those lessons to a cycle that will be totally different this time around. the fed has removed the risk of being too early and committed to being late. the question we have to ask is, how late? the major risk is the labor market recovers at a quicker pace. if it does so, it introduces a factor for the fed they have not experienced for a while that maybe they have to move rates quickly. i'm not talking about this year. i am talking about the possibility that they