let's go to daniel moss to talk about his column. been plenty of commentary criticizing powell on his messaging this week. why is messaging for the central banks so important right now? daniel: it is becoming increasingly important for every central-bank over the past couple of decades, particularly since the global financial crisis of 2007-2009, when forward guidance and all the paraphernalia, the dots, forecasts, press conferences -- these became widespread. the central bank that did not do it stood out like a sore thumb. china has a different political system. but even they have moved a considerable direction in terms of communicating their intentions, and the likely policy trajectory to investors, companies and consumers. it is really modern central banking as much about communication and substance. but the substance has to be there. dani: they have been relatively modest but i'm looking at the market reaction, the csi is up 1%, is the real value in signaling? daniel: it is interesting, the number of guests on bloomberg tv this we

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