The markets do seem to have liked what agrome powell did write. As far as investors are concerned, that's actually some measure of relief. The idea that the fed might increase rates by as much as three quarters of a percentage point in one go and cher powll appear to be taking that off the table. I'm also thinking back simon to a year ago, when the consensus belief was that inflation would probably go away on its own. What happened to that viewn n n n why did it fall away?