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Biden presidency. you remember over the mast month or so, the president has said it s not changed. it s not changed. he s talking about the month-to-month fluctuations. that s from the beginning of the administration. steve moore joins us. former senior economic advisinger to president trump. so we ve got the dow now basically flat. what the is the market saying about this half a basis point hike, steve? let s play this sound bite from the fed chief that we just got in. i don t think anyone knows whether we ll have a recession or not. if we do, whether it s going to be a deep one or not. it s not knowable. martha: that s comforting. yeah. i think it isn t knowable. fed policy has a lot of effect on whether or not we re going in a recession. the reason the markets by the way, it opened and went way down. now the market is digesting what he s saying and more re-assured ....