joining us now is kristin forbes.y an external member of the bank of england monetary policy committee. unofficial attendee at the recent kansas city fed economic symposium. in terms of this new playbook, got to go fast. you don't know when you need to start raising rates. there is so much focus on the jobs report tomorrow. what is the place for the fed of jobs and jobs growth in this new playbook? kristin: the traditional playbook is still very much the one that we are following. they want to see the labor market recovery. that is the big unknown right now. the fed estimates that there's roughly 7 million fewer workers today than there were before covid. are those workers going to come back? that's a missing leg in the recovery. it's key for what happens next for inflation. it makes sense that that is what the fed is focusing on. they want to give the economy time. they wait to see that play out. they are going to move forward, hopefully sooner rather than later, on tapering. i was focusing more on what comes next. a