The Challenge Is Slowing the Pace Without Easing Financial Conditions

Goldman: The challenge is slowing the pace without easing financial conditions. He doesn't want that to happen, he has got to really thread a tight needle then,. But i think he and the market are both clear that you're getting an additional form of tightening in the increasing of balance sheet tightening. So if you think about it, 50 basis point rate ike is really like 75 if you're also now going to double the size of balan sheet tightening.