Is There a Good or Bad Hypothesis?

The markets assumed that therefore, there would probably be another 25 basis point increase in your next FOMC meeting. Was that a bad assumption by the markets? So again, what we said at the meeting was that we believe that we anticipate, as what we said, that ongoing rate increases will be appropriate. We're trying to achieve a stance of policy that is sufficiently restrictive to bring inflation down to 2% over time. And we don't think we've achieved that yet.