the president of the peterson for international economics and adam posen is joined by simon kennedy. k you so much for joining us. we were talking before break, adam, about the fact that a lot of the emerging market leaders have been asking for a fed rate hike. at least it is done, we should move on. do you think it should come this week? >> i expected to come this week, but i don't think it should come this week. as they close call, but i would put it at a 65-70% likelihood. that makes me a liar because, again, it goes back to, do you believe the u.s. economy is fundamentally ok? then you will not see that much improvement in the labor force. i think that is where exactly the vast majority of voters are. the economy is not where it but theynce it to be, are not going to see this nonparticipation back into the labor force for. more.ee there is forward-looking thinking. the chairman made this clear at jackson hole. there is a case that could be made that you should wait until you see the whites of the eyes of inflation. i think a better way to put it, which is something someone said 25