I think it's possible to say that we're going to have continued inflation. The question is, will rates move anywhere near that point? And a, the answer might be no. Negative real rates are great for the economy and great for the stock market. It's the yeal curve. That's what we can't figure out. We will have a recession. Are we in one right now? In clear, but it's going to come. I'd also say that i would push back very hard on the notion that the ted can't go hard. For a lot of reasons, not the least of which is a jerome pal's legacy, if you really think about it.