let's bring in richard clarida, former economic adviser and fed chairman.. >> thank you. >> i will ask you straight up, do you think the fed is going to cut this year? >> i do think they are going to cut this year. everything in mortgage is a possibility but i do think there is a possibility we get at least one rate cut this year. >> is one your baseline? and if so, what was it a few months ago? >> i was taking my lead from the projections, which coming into the year, indicated three rate cuts, given the data we had into the year, that looked like a pretty sensible path. of course, since then, the inflation data has been disappointing and the economic data has been strong, so i think dialing back the expected number of cuts makes sense. i do think this said it's in data dependent mode right now and if the debtor could either improve or get worse, that will dictate the path. but, i do think we will get a cut, yes. >> i mean, jimmy diamond, i don't know, an hour ago, described the u.s. economy as "unbelievable." it doesn't sound like there is any need to cut