Is the Supply Side Negative Affected by Russia?

I think the bullet on Russia has been dodged for now. The ECB is now, you know, you talked to earlier about how things have shown up in Europe that earlier showed up in the US. And just as the inflation process took longer to feed through in Europe, so the tightening process taken longer to feedthrough in the Euro area. But I think commit is significant and well underway. And enough eventually to produce a downturn in Europe milder than the U.S., but a downturn in European as we go through this year.