This is CBS I in the World. I'm John Nacho with Elizabeth Peek, a columnist at the Hill,

a columnist at Fox News, much on Fox Business. The Federal Reserve meeting, the anticipation

up until the SVB crisis started, was that Mr. Powell and the Federal Reserve governors

would continue to raise rates as long as it takes in order to defeat price instability,

aka inflation, and to achieve the 2% target that was announced last year, that's going

to take more aggression. And the presumption was that the meeting around us would lead

to possibly a half a point rise, maybe at minimum a quarter point rise. But since the

crisis began, there have been speculation in all directions, no change, or this will

be the last for some time, maybe a quarter point, and no one, to my knowledge, in the

Wall Street Journal quotes is saying half a point I'm dead on, sure. Liz, this is not

supposed to be a political decision, but it is. Because Washington is watching what Mr.

Powell and the governors are going to do. Is there a half a point lobby in Washington

or if they all left town?

I think they pretty much left town, mainly because there is criticism that Powell has raised

rates very aggressively, and now we should be waiting to see the impact, because as face

it, it's shown the impact of higher rates has shown up in housing, for example, maybe

a little bit in some other markets, but the reality is the economy is not slowed as much

as Powell wants, or as we perhaps need to bring inflation under control. So yes, to your

point, you know, a week or two ago, I would have said to you, absolutely Powell should

have done 50 basis points at the last meeting. Why? Because the markets didn't believe

him that he was going to stick to his guns and keep raising rates to quail inflation,

and inflation expectations is a very big part of the equation. Now, and then I would have

...