he is the chief investment city national rockdale.n had the want to raise rates so badly in september but she can't seem to get the inflation numbers she is looking for. lockhart,oday from something about china is making their jobs more difficult. is it possible that the rest of the globe is going to drive the fed decision making process in september? >> i think it is certainly a greater influence than was a week or two ago. ultimately, what yellen really wants to do is normalize interest rates. by beginning to lift off in september, i think she will demonstrate to the u.s. investors and investors around the world that she has enough confidence that the economy continue -- can continue to grow despite what's going on in the rest of the world for us to tolerate a small increase in rates. we don't think it's the start of a steady rise in rates. we think it will be low and gradual over the course of the next couple of years. despite what fed futures are saying which have indicated a much lower probability in september, we think what is r