it is time to bring in david kelly of jp morgan, liz young of sofi, and john bellos, portfolio managertyler what i expect to see and hear today is four things so, first and foremost, i think chairman powell is going to stay vague about the timing because he wants to allow himself the flexibility to climb this wall of worry as eget through fall. i think the second thing we are going to hear is almost an exhaustive effort to decouple tapering from rate hikes that message is going to continue to be fed to us through everything that they say because what they don't want to happen is the expectation that as soon as tapering is over, that rate hikes are going to occur immediately afterwards i think they are going to continue to push that is not the case i also think we are going to see a movement in some of the projection force inflation i think in 2022, that projection likely goes up a little bit, which i'm not sure that the market is going to love that it could suggest that rate hikes are going the need to happen earlier. and then, lastly, in tandem with that, i think we do see some dots m

. >> john bellos. >> gdp forecasts are coming down, we are in a slow patch i think the fed needs to not overdo it with their tapering and their hawkishness. >> we will wait and see as we watch and hear from steve liesman in just a few seconds on what the fed will be. >> a great way to break the linkage to break the link between rates and taper would be to move the dots out steve? >> rates were unchanged in the statement here, but the fed said that if economic progress continues, reducing asset purchases may soon be warranted. i will give you the impact language on that in just a second the sectors affected by the pandemic, the federal reserve said, have improved in recent months but the rise of covid cases have slowed the recovery david kelly was right, they lowered the gdp for 2021 they are calling for a rate hike in 2022. nine rate hikes are called for in 2022. the funds rate seen hitting 1.8% in 2024. quite a bit of work to do. unemployment rate is slightly higher 4.8% instead of 4.5. i want to talk about inflation they pulled up from 4.2 to 3.4 it remains above 2%, interestingly, th