 That leads me nicely, matter of fact. That leads me nicely into something called front loading. Yeah. And I don't know whether you guys have picked up on this word. Yeah. What is front loading? Has anyone seen that mentioned in articles? Front loading rates, front loading interest rates? Yep. Daniel has anyone else? Anyone else seen that? Right. Okay. Well, I'll give you a, just to kind of simplify what they mean by front loading is that, so central banks will generally have a target interest rate that they want or they think. Yeah. Okay. So I'll explain it to you. So central banks will have a, potentially have a target. So they say by the end of 2022, gosh, sorry, one second. Where's my pen tool? Pen tool, pen tool, right. Right. So they'll say, by the end of 2022, right, interest rates should be somewhere like maybe 3%. Yeah, it's a 3%. And they project that through what's known as, I guess, the Fed called it dot plots, but they typically will have, if we're what second quarter right now, Q2, right, and inflation is at, I mean, interest rates are at maybe 1.5%. What they're saying is, is that in the next two, three meetings, if they have a 3% interest rate target, so what you've got is, you've got their projected interest rate targets that they think they wanna meet by the end of a certain time period, which they think if interest rates and go up that high, then inflation should want to potentially come down, right? So what they'll do is they'll say, okay, so if you wanna reach somewhere around that 3% target and the next meeting, we have to, if we increase rates by 0.05, 0.5, I should say, right, that'll bring us up to 2%, and then in the next meeting and the September meeting, we, if we do another 0.5 meeting or 0.5 increase, that'll bring us up to 0.2, 0.5, and then if we do another one right at the end of the year, that'll take us up to 3%, and then hopefully by that time, with interest rates being at 3%, inflation should come down. That's basically what it is. But the front loading, what front loading is, is basically increasing interest rates now, and then having smaller interest rate hikes later on. So what they might do, and talking about the FOMC and even the Bank of England, they might say, all right, then we'll let's, if our target is 3%, let's increase by 0.7, like a shock. I'm not too sure what a shock is, but basically they're just trying to increase it now. Like a shock, like it's shock. Oh, a shock. Oh yeah, sorry, West, sorry. Yeah, I mean, I wouldn't even say shock. It's just, while I guess the thinking behind it is more to do with, look, if we can increase rates as much as we can now before a recession comes, right, because we may avoid recessions if we increase rates by more to get to our 3% target in the short term, and then maybe later on we can only, we only have to maybe do 0.25, because then let's say for example, the second quarter Q, let's say Q3 data comes out, right? And Q3 data comes out, and then it's, GDP growth is at like 0.1%, and that's coming down from maybe 0.5%. Let's just say, right, just use these random numbers. Yeah, at least then, if there's disappointing GDP numbers, they're not hiking at 0.5%, which could then tip that number into a recession. They're, because they've hiked more in Q2, yeah, by Q3, if that number does come out as, you know, being a poor GDP number, they're closer to their 3% target, which means that they have room to then just say, all right, and maybe we'll do a 0.15, you know, interest rate hike, does that make sense? Because it's harder, it'll be harder for them to rate, to hike rates at maybe 0.5 with contracting and bad GDP numbers. Does that make sense, guys? So that's what front loading is. Yeah, so they're still gonna get to their 3% target, or 3.5% target, or whatever it is, but what they're actually doing is just trying to hike more sooner. And there was evidence of this, in fact, you know, back in, when was this, this was in April, right? April 21st, this year. So a couple of months ago, Powell, you know, Jerome Powell, head of the Federal Reserve Chairman, right? Powell backs front-loading Fed rate hikes, yeah? So he backs that, yeah? The Fed's Bullard says, front-loading could lead to rate cuts by 2023. So what he's saying is, if you front-load now, yeah? Because I guess if they think of recession is coming by 2023, and the recession does come by 2023, again, you can then start to cut rates because you've hiked rates so much that you can cut. So, but I don't really wanna get into that now, but just understanding that they kind of support front-loading, right? And he says it here, right? So in speech marks, quotations, he says, I have also said that we should get to 3.5, so the number's not 3%, it's 3.5 by the end of the year, which is higher than some of my colleagues Bullard said in a Fox Business interview on Friday. The more we can front-load, the more we can get inflation and inflation expectations under control, the better off we will be. In years out, in 2023, 2024, we could be lowering the policy rate because we've got inflation under control. So front-loading is just them saying, let's, what's happened here? It's just them saying, look, we can, yes, it, so we can high-create, it's better to high-create sooner and be more aggressive now than later on, because later on, we could be in a worse place economically, which would then really kind of tie our hands. So there might be a chance that they might front-load seven, yeah, exactly. That's exactly it, Alexandros, right? That's exactly it. So the FOMC meeting, they could actually, and that's why the dollar rallied. If you, I don't know, I can't remember the report or exactly where I read it or someone posted it, but basically, there was something, there was an expectation somewhere here. So there we go. So basically, when CPI came out last week, you know, more than expected, that pushed the expectation that there could potentially be a 75 basis point hike. Does that, and that makes sense, right? That makes all the sense in the world because inflation didn't come down, it went higher. So they said in effect have to act more aggressively. They have to front-load, right? And that's what this pricing was, right? Oh, is anyone in the, is anyone in this, by the way, in the short in the euro, I got in up here. This was a nice, I only got in one position though, which was a bit annoying. Yeah, you got in Daniel, excellent.