is it even possible to take away the punchbowl as they say just as the party is getting started? >> congressman i don't want to rehash history i think there's lite of conventional wisdom out there about the earlier episode and i think when we at the fed we published a paper looking at the evidence and i think it is much less clear than some people would make it. putting that aside we are, we recognize that very low interest rates we have today that a number of people have been concerned about the possible of creating a bubble in some asset class not clear which one and all i can say we agree it's important to monitor what is happening in financial markets. we are doing that although very difficult to know whether an asset is approach gratly -- appropriate i prisd or not we do not see at this point. if you have some views certainly like to hear them but we don't see at this point any major mispricing in important asset classes right now thank you chairman bernanke. >> gentleman's time has expired the gentleman from california has deferred until later in the process and the gentlem