jonathan: joining us is lewis exact -- lewis alexander and david lebovitz. great to have you with us. what has changed for the chief dov the last six months? lewis: the economy has been doing better. what is striking to me about what she said she said the economy is close to full employment. that has been an issue of dispute. thealso characterized international risks as being relatively low we are facing political issues in europe so that is one of the things that was surprising. jonathan: we have this classic central bankers line and the risks are looking more balanced than i have in some time. is that the fed's way of saying, we are acknowledging what may happen in d.c. in terms of fiscal stimulus? david l.: i think they are doing their best to a what is coming out of washington given the little information we have. if i think about the fed of the past few years they have been tuned in to the broader risks, whether the global economy or the u.s. economy or those outside their purview of price stability at full employment. to perhaps there is more inflation

lewis. all right, so spicer is saying, truly, that because there were quotes used, patrick healey, that does not mean that we should take it literally. he had a long exchange with peter alexanderc about what we should take literally or not. let's just show a tweet sans quote, for a moment, because the president did not use oquotatio marks in this one. "how low has president obama gone to tap my phones during the very sacred election process. this is nixon watergate, bad or sick guy." all right, so spicer's explanation doesn't hold up there. >> no, i don't see any air quotes in that tweet. i mean, he -- you know, president trump has been using twitter for years to communicate. he thinks to communicate quite effectively and directly to voters and americans. he was not, as near as we can tell, suggesting this was an iffy proposition. he had a clear accusation to make about wiretapping. he had a clear hit to make in calling president obama a bad or sick guy. what he didn't have was any kind of evidence to back up the use of the word "wiretapping." and you have to wonder, god, does president trump sort of understand what the word "wiretapping" mean? the implications of that? this i