Looking at the bond market and the stock market, the crypto market - marekts in general, I'm not really seeing serious moves that's pricing in a rate hike. In other words I think the market is largely calling BS on Warsh's hawkish talk. What do you guys think? Do you think he'll defy expectations and double down on his rate hike policy? Or will he chicken out and just go by the established book, proceeding to cut rates aggressively and refilling their backend repo?