still with us is edmund shing.you agree with michael mckee that we are going to see this reaching the gap? she seems a little more cautious . chair: i think the fed has to steer a middle ground amongst the committee of fed presidents. really, to some extent, the markets have been a little too focused on this question. what we really should look at is the long end of the curve. whether the fed funds rate goes up inmarkets december or littlet after, it isn't really the biggest story. the biggest story is what bill doubly was talking about about this bill dudley was talking about, longer-term inflation -- bill dudley was talking about, longer-term inflation. debate of the syllabus curve. this is the difficulty that we have. we know employment is very strong in the u.s. and get there is no pickup. will wage growth account? up?ill wage growth pick alix: take a look at this chart. is the probability of a fed rate hike by the end of the year and the blue line is the bloomberg dollar spot index. we are seeing a nice move i