tom: deutsche bank research has been on fire, led by peter hooper. al team. dr. hooper joins us now. do you by the fact that we are seeing central-bank coordination? peter: i think that george is onto something. hint.nly draghi dropped a central banks generally do not coordinate. seemingly ino act concert when the data is in the same direction. this is interesting. by the way, david landau is head of research -- tom: we look forward to having dr. hooper and dr. landau with us. that doesn't even go to the research over the years. excuse me, that was my faux pas. iter, you know this chart, is supposed to happen. the two lines are together. the table rule is nowhere near where we are now. the orthodox is this normalized fast. what is constraining the central bank? is it productivity or inflation? peter: it is inflation right now. inflation is low. productivity is low. has the ability to move slowly because inflation, if anything, is surprisingly to the downside. core pce below 1.5%. there below target. he gives them -- they are below target. it gives the

tom: you and peter hooper represent wall street. i suggest the cast to gdp. dr. hooper said you brought it down a bit. 3% gdp? can we get there? >> it is too optimistic, but the economy continues to do well. unemployment is doing well. we are seeing a number of indicators, a broad range of play money. this economy is jumping down, and no inflation. we will do well. tom: 4% nominal gdp. scarlet: professor, you have written about this about how the federal reserve is not doing as much as they can to be promoting anti-growth in its approach, can you expand? >> i think it gets back to what my colleague was saying. a vision the fed continues to judge itself around the old standards with monetary policy as opposed to judging itself by how it is doing in terms of mandates, inflation, employment. it is worried about trying to normalize monetary llc as opposed to trying to get as much growth can out of the economy without creating new inflation. [speaking simultaneously] >> absolutely. he is right on the money. using an old framework to match policy i think is a dangerous