let's welcome terry duffy.to see you. >> thanks, scott >> what's your take on what the fed chair has been saying including today, leading us to believe there may be not one rate hike to come this year, but two? >> you know, scott, i've been critical over the years and said this to you many years ago i thought the fed missed many opportunities to take the advantage of tightening rates throughout the last several years. then we did it all at once i have to be honest. i didn't see the markets reacting the way they have, especially with all these tightenings over the last year i agree with josh. i think the fed has done an amazing job in the last 14 months by taking it up 500 basis points and the equity market is still continuing to rally. a lot of people didn't believe that would happen. maybe i was one as well. all in all, seems like the fed is going to continue on its path i think it's a good thing and it benefits us at cme group. >> do you feel like you want to manage your risk even more because you've been som

terry duffy, the cme group, will join me now. final trades >> i like marriott here.as corporate travel i like this name. >> carrie firestone. it's an engineering company, providing for health care, technology and industrial businesses we think that's a space, the mid cap industrials that can continue to performance. >> joey? don't get me fired up about energy terranova >> we were finding a financial companies that grows, double digits over the last 36 months that's exactly what arch capital group has done. >> nice. >> great company, insurance. >> how many times do you think the fed will hike by the end of the year >> i think it's a jump ball at this point i think they're going in july. unfortunately, i believe that's a mistake. we'll see what happens there after. >>> and i'll see everybody in "closing bell" in a couple hours. >>> thank you, scott welcome to "the exchange." fed chair powell testifying. he said it's less important now in terms of rate hikes dow is down 30 points, the session low is 178, the s&p 500 is down 19, 4369 today, a half%. the nasdaq is the wor