2006, would you and your colleagues suggest that the fed had to provide almost closure to a burning kiera, and the way to do that was to begin? , and the bernanke era way to do was to begin? >> i think they said, look, we want to do this, but we do not want to do this in january when we might have another political fiscal issue he cut the debt effect goes back into february 7. and at the same time, the economy is good enough that if you're going to do it in january or march anyway, why not just get it started? to doally if you're going it slowly. >> this is about as small a taper as you could do. it is a small paper with a big market reaction. you can see a one percent move, the dow tobacco over 16,000. -- the dow back up over 16,000. we welcome all of you worldwide as we look at this fed decision and move forward to the news conference that the chairman will give. we will see that in about 20 minutes. from our headquarters in new york, good afternoon. this is "bloomberg surveillance coco stay with us. -- "bloomberg surveillance." stay with us. ♪ it's good afternoon. a fed decision and a