at thestart looking ,ndicators of the balance trade if you look at those you can start to see that it is really consistently going down. ahead, it is hard to see us get back to that 2% target level over the next few months. jonathan: as we look over a two day testimony from the fed chair do you sense she was losing conviction and maybe transitory isn't all that it's teams? >> no, i didn't get that sense. i think that chair yellen and a majority of the fomc have communicated with the markets a policy plan, a policy normalization track, that they would like to follow, and that involves raising the funds rate one more time, and beginning balance sheet restructuring fairly soon. i am struck by the fact that over the past several years since the end of the recession we have had this pattern of relatively weak or softer economic data during the first part of the year and then somewhat healthier economic data during the latter part of the year. maybe we are still in that pattern. chair yellen is obviously concerned and she wants to see the rate of inflation move towards 2% but they can't wai

confused here, i was listening to a program yesterday on democracy now, they were nafta and they ndicated that nafta, when it was initiated, the peso dropped radically that, is one point i to make. and if we're going to revamp the nafta, we attention, also, to benefiting from this and corporations benefit greatly from it, a trickle-down system are in the lower economic standing. the issue i have also is that we are not putting our on ronmental restraints nafta, so when we get vegetable meat from other countries, how safe are they? we have requirements in this we don't require that in nafta, can you explain that, please? guest: thank you very much. the peso issue of course is a talking nd what you're about i believe is tequila crisis as it is known that hit nafta took ly after effect. a lot of people wonder why as 't nafta good for mexico people thought it would be economically. happenstance, h tequila crisis around the time nafta started. mexico's economy, it has been good for u.s.-mexico relations and certainly now the peso moves based on what donald trump says about nafta and uilding th