anyway, thanks, steve, for more on the fed under fire, let's welcome dennis lockhart, former atlanta at georgia tech. thank you for joining us here's the quote, dennis there is even an argument that the election falls within the fed's purview, trumps re-election arguably presents a threat to the u.s. and global economy so that is purely, i mean, i don't know, they owe owe okay and its ability to achieve employment if the gel to mon tore policy is to achieve the best performing long-term economic output, the fed officials should consider how their decisions affect the political outcome in 2020? i mean, this reads to me almost like a kubrick or orwell, this is the most frightening thing i think i've ever read about, delusion of grandeur and this guy was a full on fed member i'm wondering, is there people on the fed that decide that's the role of the fed if determining if their view who should be elected president? >> well, bill dudley is a private citizen now. he can say whatever he wishes. you noticed, of course, that the fed disassociated itself very quickly from those comments and i

for more on the fed decision, let's welcome dennis lockhart who almost justfá left i saw him -- anywayt leave,e senior markets commentator. i said;o dennis earlier that y powell seems like ano earnest, well intengsd, smy) guyf -- intentioned smart guy you can't say wha'1 the truth is uik5)uá base it in terms of what market participants want to hear. if you are a data dependent, it's an adjustment down at these low levels you see europe week weak.w we see -- europe weak, we seem ou! these traders, you arel dealing with spoiled brats that love a punch bowl i have got that right? >> yeah, in my opinion a fed chair and certainly jay powell simply can't fully satisfy the markets and for that matter satisfy the media. because he really can't say in advance exactly what the committee is going to decide he does speak for the committee. he's ultimate will i the sole spokesman for the committee. but he isn't, doesn't dictate policyq andj unless the commi took ane1e1 explicit decision a secondÑ or thirdÑirate cuts, no talk about that in advance of a coming meeting >> i thought they