fed bank of america merrill lynch with a bold call calling for seven rate hikes let's welcome ethan harrisou are the least provocative person i could think of. if it came from anywhere i'd dismiss it what changed in your mind? >> i'm such a nice guy wear sweaters on tv. yeah listen i think the fed is finally admitted that they're behind the curve. it doesn't make sense to have a zero funds rate with how fast the unemployment rate is down to 3.9% and falling fast. we have seen high inflation ratings and persisting longer than expected. what's the fed do about it and catch up the consensus is raise once a quarter. that might have made sense if you didn't have a significant surge in inflation and such a tight labor market but i don't get it in this environment to me, an appropriate policy would be to start in march and then each meeting reassess look at the data which is going to remain strong look at the inflation numbers which come down slowly and then hike again and i think ultimately they hike seven times this year and probably a few more hikes next year you can't catch up going once a qu