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Terms of recession worries, and in terms of whether the fed can actually execute what we call a soft landing. we just don't know how it is going to work out. we know what the fed did yesterday was pretty historic, first time since 1994, that was basically three rate hikes in one move, and na shows you how serious they're taking the inflation threat here. we saw the jobless claims numbers earlier this morning, this is a weekly reading. look, this is a number that is now back above prepandemic average. it is a proxy for layoffs. we'll watch this very closely to see if you start to see layoffs pi...

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Re really get to the heart of what needs to be drawn out to establish the issues here. >> okay. hit pause on this conversation. hang with me. more to talk about ahead. first, this just in -- the federal reserve just announcing it is cutting interest rates for the third time this year. this is just coming in, hours after the commerce department announced the u.s. economy is showing signses of slowing down. go to cristina alesci our cnn business correspondent and another quarter of a percentage point cut in interest rates? if the economy is solid, why is the fed doing this again and so soon? >> ...

So we have no idea what the fed's going to do because the fomc is just 12 votes where out of 12 people drawn from all across the country you're going to have some hawks, some doves, you never know. so there is no vision. there's no vision to communicate. charles: great point, and that was also underscored in the so-called dot plot, you had a couple that wanted to do nothing, one voter who wanted a 50 basis point cut. jay powell says, he seems to take pride that he is more of a consensus builder rather than someone who likes to dictate his own opinion or authority. we need someone who's strong-...