. >> bob, thank you for that more on today's fed decision, let's bring in david zervos, paul mccauley and chief economist at grant thornton and lori rbc capital markets. good afternoon to you all. paul, what's why your takeaway from the decision? >> it was very animated. >> i know. >> i think chair powell did a really good job. it was a difficult thing for him to do. the fact that the market hasn't moved much at all today, a sign of communication, the fed had to ease today because the market was prepped for it in every regard and i think he explained it very well but the fundamental issue at the fed right now is they're making policy without a robust reaction function that is the real difficult thing. and they're doing the strategic review it's wonderful to see him highlighting it, coming out at the end of the year try to inform what their algorethm is from the standpoint of incoming data he's making policy without a reaction function. i thought he did a very good job and said it is a mid-course correction, except if it isn't so he left a great deal of optionality on the table that's