joining us this hour is black rocks jeffrey rosenberg.the opening bell in new york and this is "bloomberg . jon: breaking news from the imf, they cut their 2016 global growth forecast to 3.2%. let's bring in jeffrey rosenberg fixed income strategist from black rock. your thoughts on this initial reading? don't think there is a huge surprise. the market was expecting them to cut their forecast. they've got a consistent track record of cutting forecast. crisis what the post growth environment has been all about. were looking for a bigger recovery and there is a lot of disappointment and we see that again for this year. they are cutting for next year as well. they hoped growth would pick up in the u.s. and drive the rest of the global economy. they cut that to 2.4%. what's your forecast of growth in this country? this is the more near-term conversation. the big swing in terms of growth expect tatian is occurring around the u.s. consumer. we will get u.s. retail sales. consumption read on and it will begin to get us out of these first qua