and jonathan golub who was there will tell us why the market is going higher but there is a catch he explains. let's send it over to steve liesman for more on powell's message to the market. did powell give in >> some people characterize it that way i'd say he redirected from a legal standpoint perhaps but what he did for sure was ignite a powerful rally saying the fed is not on a preset course, the market wanted that and that the fed is just below the range of neutral estimates >> interest rates are still low by historical standards and they remain just below the range of estimates of that level that would be neutral for the economy, that is neither speeding up nor slowing down growth. >> let's unpack that they say it's not as dovish as markets think. the top of the range is only one hike away from the bottom end and but three from the middle and 5 from the top it could mean anything along those lineses. he also affirmed the fed's plans to the shore up rates. the dollar shot down here is what happened in the futures market a rise or percentage chance of a rate hike in december and a

and jonathan golub who was there will tell us why the market is going higher