Fed monitoring market information to inform decisions in seven to eight weeks; watching real economy effects.

Monetary policy matters by how it affects the real economy. And these prices that we see in financial markets is one of the many ways in which it affects the real economy. We'll be continuing to watch that market information, see how it responds to incoming events, and that can help inform our decision-making when we meet in seven or eight weeks. How would you characterize in the family fight the last couple of days of you and the other eight members who wanted to hold? Was that a strong conviction or was that a hair-trigger close call on holding versus tightening? Well, I think the vote was nine to three.