john ryding, what research did richard clarida do? clarida gertler?here does -- tom: where does clarida fit in? you were the short list of who will be chairman or president. things has been different with a different mix than ben bernanke and janet yellen. richard: i think i set a couple weeks ago that if i were at the fed i would have voted for a hike in september. they did not. i've given the fed generally high marks in the crisis and post crisis period. i have no major complaints with the yellen fed. we need to get off zero and they will try to do that in september. tom: did for guidance die? john: it may have taken some people a while to pick up that next meeting is pretty -- tom: i believe it is december 16. richard: i've done a little research with connie chri-- crescenzi, the last time "next meeting" appeared was 1999. about federalalk reserve communication. and investors will cup without a clue of what the fed is doing. give them some advice, what do they need to look out? john: a 25 basis point rate hike on december 16. unless we get a big ch