katie: joining us now i am pleased to say we have lisa coleman, rob all there, and cliff corso with advisors asset management. cliff, we got the last fed speak before the may meeting. has anything changed in your view? cliff: i certainly think certainly the regional banking crisis has put a whole new dynamic in terms of how the fed has to think about where they are heading on this path. they are already jacking rates up to this 5% rate and maybe they go to 5.25% but they are beginning to wrestle with systemic risks out there now and lurking, and how do they way that down? they have done enough and is it time to hike it all? which is what the forecast is. as some of your guests are pointing out, can they hold if we do have a recession question mark i think a lot has changed. the other thing that has changed, last year, the fed is, right now for the first time, at a loss in real yield territory. as of 2019, that did not work out too well. so they've done a lot on the job hiking. in terms of how they play at what we think they hike. katie: lisa, it has been one of the favorite thought exercises