i no at the last fomc meeting the president of the federal reserve bank of kansas city tom hoenig descented in regards to the use of language about low rates for an extended period of time. he basically made the argument that that does not give the feds the flexibility, the fed the flexibility it would need in case the recovery happens at a quicker pace and that people are starting to build expectations into the marketplace because of the low interest rates. do you just ask you first of all, can you have the flexibility that you need and then if the economy improves at a quicker rate, can you be flexible without shocking markets that are building in the expectations about the low interest rates? >> yes we can. mr. hunt specific concern was the sam one i talked to mr. royce about which was about bubbles and asset imbalances. and as i say, we're looking at that issue but i think it is very important to keep in mind that when we talk extended periods we're not saying a fixed period of time. we're saying a period of time which depends on how the economy evolves and our statement very specifical