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Well there's nobody better, Tom, to speak to you about the implications of this Brexit

vote for markets worldwide, for governments and Central Banks worldwide, and Adam Pozen of the

Peterson Institute, a man who has served as a monetary policymaker here in the septored aisle.

He is now back in Washington Adam, good morning to you.

It is for those who are here on trading deaths an absolutely stunning morning.

Can you put into perspective for us though what it actually means longer term.

Sure Michael I'll try. Thank you for having me. The longer term has to

thought of in a few ways first for the UK this is a mitigated

bat because at a minimum you have ongoing uncertainty about the coherence of the

UK with respect to Scotland and Northern Ireland, as well as who's going to be in

charge politically, are they competent, as well as will people be wanting to invest, as well as we don't know what the relationship

with the EU in terms of trade is that migration will be going forward so just

...