gus faucher, senior economist at pnc. doug cote.the director of fixed income at lord abbett. we're joined by our colleagues nicole petallides at the new york stock exchange and jeff flock at the cme. we'll check back in with you. we're about two or three minutes away from the fed decision. steven ullner, to you, he expected the forecast to be downgraded. what do you expect to hear? >> i think they will be downgraded. forecast for gdp growth this year will be lowered and i also think the forecast of inflation will be lowered based on what happened so far with growth and inflation so far in the data that we've seen. ashley: doug, let me get to you. i guess my question is, does the economic data right now show the fed what it needs to do? >> well on the moderate growth side which i think he will reiterate is, again retail sales, housing, corporate earnings are fine but, as your other guests said, i'm concerned about inflation especially the fed's favorite indicator, the pce price index. it was actually less than 1% for the last year. a