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GOOD BUYING OPPORTUNITY. WE WILL SEE. INTERESTING TO HIGHLIGHT DOM, THANK YOU >>> AND THEN SENIOR ECONOMICS REPORTER, STEVE LIESMAN, JOINS US WITH THAT STORY >> GLOBAL FOOD PRICES HAVE FALLEN FOR THE FIRST TIME SINCE RUSSIA'S INVASION OF UKRAINE, AND GLOBAL SUPPLY CHAINS ARE CLEARING THE RESULT HAS BEEN FALLING OVERALL INFLATION, NOT JUST IN THE U.S. BUT GLOBALLY WITH JPMORGAN FORECASTING SHARPLY LOWER INFLATION AROUND THE U.S. AND EUROPE GOLDMAN SACHS WRITING YESTERDAY THE SUPPLY CHAIN RECOVERY TOOK LONGER THAN WE EXPECTED BUT FINALLY ARRIVED. NEXT YEAR JPMORGAN SEES THE TREND HAPPENING GLOBALLY AND BELIEVES CENTRAL BANKS WILL FOLLOW IT. AND THEY SAID OUR CORE INFLATION WILL BEGIN TO FLOW AND SHOULD ALLOW MOST CENTRAL BANKS TO PAUSE IN THE FIRST QUARTER OF 2023 EVEN AS INFLATION REMAINS ABOVE TARGET U.S. DATA ON FRIDAY SHOWED DEFLATION ACCORDING TO THE THREE MONTH ANNUALIZED NUMBERS, AND THEN WHETHER THAT MEASURE COMES DOWN WILL HELP DETERMINE DOES THE FED RAISE TO 5% AND STAY THERE OR ABOVE 5% AND STAY THERE, OR DOES IT CUT AS MARKETS NOW PREDICT. KEY RISKS TO THE GLOBAL INFLATION, CITED BY ALMOST ALL OF THE FORECASTERS, THEY CITE THE POSSIBILITY THAT HIGHER WAGES PASS THROUGH TO CONSUMER PRICES >> STEVE, I WANT TO ASK ABOUT LOWER GLOBAL INFLATION IT'S A DOUBLE-EDGED SWORD. ON ONE HAND, YES, RATES ARE LOWER BUT HOW MUCH OF THAT IS BECAUSE THERE'S A POSSIBLE RECESSION AND HOW DOES THAT FACTOR INTO HOW WHAT IS GOING ON HERE >> SOME OF THE DECLINE IN GLOBAL PRICES IS BECAUSE OF THE WEAKER PRICES, AND YOU HAVE SUPPLY CHAINS CLEARING AND WHAT IS HAPPENING IN TERMS OF ENERGY PRICES THEY FOUND A WAY, IT LOOKS LIKE, IN EUROPE TO PUT A CAP ON WHAT IS HAPPENING WITH ENERGY PRICES THERE, SO YES, IT'S A DO DOUBLE-EDGED SWORD IN TERMS OF PART OF IT BEING WEAKER ECONOMICS, BUT A CLEARING FROM THE PANDEMIC SUPPLY PROBLEMS >> HOW MUCH MORE DO YOU THINK THE FED NEEDS TO SEE BEFORE IT WANTS TO PAUSE THE FED IS REALLY FOCUSED ON THE COA COARSER SREUSS THERE WAS A REPORT THIS MORNING IN THE JOURNAL THAT THOSE WHO ARE LOSING THEIR TECH JOBS ARE FINDING THEM VERY QUICKLY, SO THE LABOR MARKET DOES APPEAR TO BE VERY TIGHT, SO THE FED WILL WANT TO BE SURE THAT WE DON'T HAVE THE WAGE PUSH INFLATION COMING THROUGH AND IT MIGHT TAKE A COUPLE MONTHS BEFORE THEY FEEL SECURE ABOUT IT. >> WERE YOU SURPRISED BY THAT STORY, STEVE THERE'S A LOT OF FEAR -- >> NOT AT ALL. I HAVE BEEN TALKING ABOUT IT FOR A LONG TIME, ANDREW, BECAUSE THE DATA SHOW WHILE WE ARE READING THE ANECDOTAL EVIDENCE ABOUT THE LAYOFFS, THE DATA IS NOT SHOWING UP IN TERMS OF BIG INCREASES IN JOBLESS CLAIMS WE HAVE THE CONTINUING CLAIMS GOING UP SO SLIGHTLY, BUT THE UNEMPLOYMENT RATE REMAINS LOW. >> BUT THE FASCINATING PIECE IS WE HAVE BEEN TALKING ABOUT TECH SPECIFICALLY AND HOW THE VALLEY...