andelcome nick bendenbrook linda bolynda. does this change your view on the dollar going forward? i would say the federal changes its stance relatively slowly. they are becoming less hawkish and arguably more dovish over time. what did you make of it? we thought everyone was in consensus. now, it seems like if you dig beneath the headlines, there is thatide over inflation could affect the next 18 months. lynda: for us, not a lot changed. the fed is more data dependent. they are sensing risk in the underlying economy. the consensus out there is still about the fed is going to remain patient. potentially no rate hikes this year. maybe one or two next year. be prudent for them to be a little more flexible if the u.s. economy does pick up. giving themselves that flexibility is really important. not a lot actually changed in the actual minutes. david: suppose the inflation data keeps going the way it is, doesn't go up significantly. there seems to be division in the fed over whether there's another rate hike or not. linda: there i