martin explain is hagerty.tin, certainly seem like counting on one kind of president trump to emerge. >> so far. two extremes that could happen. you have the campaign rhetoric towards antiimmigration, trade wars. speech thatptance has been seen to be positive towards creating an atmosphere conducive to real economic growth. contrast to what we've seen for the past. coupled with the infrastructure mentioned.you >> this call, people have been call for big infrastructure time morea long physical spending. some people say, would it made a sense several years ago when we had much higher wagesoyment as we see rising rapidly 3.9% year over year. much slack. what's the fed response if we get a big fiscal boost at a time close to full employment. >> you raise a good point. is 4.9%.loyment rate this morningn 2.1%. we're still waiting for pce higher.n to move there a risk. engaging, potentially , engage in a battle of fiscal policy and a healthy inflation backdrop. we're not still pricing a innificant overshoot inflation