 I was in India at the beginning of January and I saw this demo class, in India one of the things that's very exceptional that's happening is digital public goods that are getting built for identity, payment, many systems and one of the digital public goods that's getting built is for language translation, right. So basically they have an open source project so that anybody building any application in India can translate between any language in Indian, any Indian language. So a demo I saw was a rural Indian farmer trying to access some government program, right. So he just expressed a complex thought in speech in one of the local languages. That got translated and interpreted by a bot and a response came back saying go to a portal and here is how you'll access the program. He said look I'm not going to go to the portal, I want you to do this for me and it completed it. And the reason why it was able to complete it was because they had that developer building it had taken GPT and trained it over all of the government of India documents and then scaffolded it with the speech recognition software. So think about what that meant, right. That basically meant that a large model, a foundational model that was developed in the west coast of the United States a few months before had made its way to a developer in India who then sort of added value to it to make a difference in a remote village's life. And I've never seen that type of diffusion to your point about the industrial revolution clouds. You know I would say you know we're still waiting for the industrial revolution to reach some large parts of the world 250 years after. The internet maybe took 30 years maybe the cloud and mobile took 15 years and now I think we're talking months. I think it would be a grave error for central banks to revise their 2% inflation targets upwards at this point. Having re-emphasized repeatedly the absolute commitment to the 2% inflation target to then abandon the 2% inflation target would do very substantial damage to credibility. If you can adjust once you can adjust again. I think much of the rhetoric surrounding it's not worth having a recession to reduce inflation, which is an argument that is often heard, misunderstands the counterfactual. The counterfactual is not can we have more inflation and not have a recession. The counterfactual is if we fail to deal with inflation we are likely to have a larger and more serious recession at some subsequent point. Europe has not frozen, recession has not come, China has adjusted its policies towards the world and inflation has decelerated. Those are all positive things and reasons why we should feel better than we felt a few months ago. But relief must not become complacency. Inflation is down, but just as transitory factors elevated inflation earlier, transitory factors have contributed to the declines that we have seen in inflation. And as in many journeys, the last part of the journey is often the hardest. And that's true with respect to a return to the inflation target.