mr. rocker miller's view. >> jay powell processes have done him no favors. janet yellen such you was going to hike four times, she did not hike until after trump's election. this qe3, and i said at the time, is now in use around his neck as they try to unwind the balance sheet. he has a tough road here and you are correct, trump is making it more difficult and he should shut up. , how much more difficult is the president making it for the fed chair, and the second question around what we just heard, the balance sheet runoff, they are being inflexible in the way they are doing it. they put it on rails. do think in 2019 that may change and we may get more flexibility? >> i'm not going to comment on the administration, but we think powell is going to focus on the data and where it is coming in. they are going to move from that three hike into two tomorrow in the dot plot. and really focus on the data and become more data dependent as we get to 2019. guy: thank you very much. of course, we have special coverage of the fed decision tomorrow at 2:00 new york time,