let's not lose sight on the fact that as kitty griffin said yesterday, the economy pretty good right now. this is a good economy, he said, just plain and frank here at the employment cost index is coming down. pce, the fed's favorite measure going in the right direction. inflation expectations, gets you a ham sandwich and bag of chips, still going in the right direction. big picture, this is working toward where you want it to work. >> that is absolutely true. i just think that powell's bar for satisfaction is higher than most. i heard the words, sustainable path toward 2% over, and over, and over again today. their own projections for pce ready for the end of this year is still 2.4%. i also think his threshold for pain is higher. if the economy starts to show weakness, i think the economy will react and say, that is it, we will get more cuts and reacts initially on that. i think they are quite comfortable with seeing some weakness, almost welcome it to get everything back into balance. >> you want to take a shot at what was said about risk assets, even credit, high- yield, things li