john donaldson has the actual timing here. you say between june and september the fed will raise rates, john, correct? >> they have been giving -- yes. they have been giving strong signals, both governors and regional fed presidents have been remarkably in unison giving winks and nods if not absolute hints this is coming. the timing is data dependent. chairman yellen has been very adamant in all of her testimony and notes from the meetings about that point. i think the, issue that is in front of them right now, is while they have reinforced that data dependency, they have also stuck a calendar reference in the form of patience which everybody interprets to mean at least two more meet frogs now. they really need to get that calendar reference out there. they don't want to be stuck by what the calendar says, rather than what the economic data says. liz: let me give you a little breaking news here. loretta meister of the cleveland federal reserve in the last 30 minutes, that a rate hike this year, is quote a very viable option, ve