they are one and done at the most >> raghu, i'll give you a chance to respond to that, as well.you worry that that would have a negative impact in terms of stoking inflation or do you think the damage is done >> it depends how much contagion there is on this if people get worried they're putting money under the mattress and that becomes a problem and that is, in a sense, the downturn of the slack that the fed was looking for. if, however, over the next few days the sense of reassurance and people go back to thinking about the future then the fed has not done it and they'll have to do more my sense is they'll take 50 basis points off the table for the next meeting and it's probably 25 and that, too, if the cpi numbers come in reasonably strong. >> steve, i'll give you the last word where are the markets telling you about where we're going with rate hikes >> steve liesman, as i see our next guest getting ready there in the panel and i'll keep them waiting for just one more moment steve, are you there can you put a button on this >> can you hear me >> i can hear you. if you can jus