timing of the first decision to raise rates is something that should not be overblown since december, thearch, what matters is committee anticipates at the conditions that would call for a gradual evolution of the fed funds rate toward normalization. with respect to international spillovers, this is something that we had been long scheduled to. obviously we have to put in place a policy that is appropriate to evolving conditions in the u.s. economy, that thereot promise will not be volatility when we make a decision to raise rates. what we can do is to do our very best to communicate clearly about our policy and our expectations to avoid any type of needless a misunderstanding of our policy that could create volatility in the market, and potential spillovers as well to emerging markets, and i have been trying to do that now for some time. i have been doing my best to make good on that. marty: marty with the associated press. you just talked about the fact you cannot promise of there will not be volatility. there seems to be two schools of thought, one that the fed learned from the mistakes in