joining us former fed governor randy kroszner. thank you for being here.y, is it -- if you raise rates, you're definitely going to have a hard landing? if you don't raise rates, you'll avoid it? or is it a bit more complex than that? >> much more complex than that. i wish it were so straightforward. the fed wishes it were so straightforward. whether they raise rates a quarter percentage point or not, that's not going to make or break the u.s. economy. if it does, we're in a lot more trouble. so, you know, we're at a relatively high level compared with the recent past. and we're now in a positive territory, that positive real rate territory that is adjusting for inflation. rates have turned positive. they've been negative from before. we're now seeing real wage growth, which is great for workers. but that likely means less demand from the -- from the employers because it's relatively more expensive to employ people. i think with the lags, it's going to be really difficult to bring inflation down sustainably without having a substantial slowdown, possibly re

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