we have shery ahn, fred noonan. global economy to function pretty well and keep growing, you have to have growth in china and of course u.s. recovery. you have got to have the u.s. >> there is this expectation we are looking at stronger growth. when we look at the economic data everything shows no celebration growth. even the latest china data. there is an assumption we're going to look at a pickup in growth. i don't ticket is going to be quite as strong. europe might start to fizzle again. i think it is going to be challenging. >> he was saying he thinks it would be similar to last year. a weak q1, and in the second half. is that out of the realm of possibility? >> i think that is the baseline assumption most people have. it was the weakest quarter we ever had. we can't just put it down to the weather. it was the weakest growth corridor since the global financial crisis. we're seeing a much weaker growth in the economy and also it hasn't really rebounded. >> does that push the fed to wait until next year? >> it loo