 In fact, Chair Jerome Powell's interview at the DC Economic Club on February 7, 2023, he mentioned the following about a path to achieving the 2% inflation target. So 2% is the global standard as measured by the PCE index. We expect 2023 to be a year of significant declines in inflation and I guess it will take certainly into not just this year but next year to get down close to 2%. In other words, it will take us into 2024 before we can reach the 2% target according to Chair Powell's estimate. In the interim period, we can expect the Fed to continue to keep interest rates high in order to curb inflation. When you look at the S&P index, we can see that it has dropped below the outward training channel in the last couple days. Looks like a bearish trend has started.