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JOINING US TO TALK ABOUT THIS IS MARK MOBIUS. MARK, I TAKE IT YOU WERE LISTENING TO WHAT THE FED CHAIR HAD TO SAY YESTERDAY OR AT LEAST PARSING IT READING AND SEEING WHAT IT ALL MEANS. DID YOU CHANGE YOUR STANCE ON ANYTHING BASED ON WHAT JAY POWELL HAD TO SAY? >> YOU CAN SEE WHAT HE STARTED WITH AND THAT WAS HE WAS DETERMINED TO GET THE INFLATION RATE DOWN. THIS WAS THE KEY POINT THAT I PICKED UP ON THAT TALK SO, WE CAN EXPECT CONTINUED INTEREST RATE RISES UNTIL THAT CPI COMES DOWN TO 2% WE ARE STILL ON THAT PATH. IT COULD HAPPEN QUICKLY OR IT COULD TAKE A LONGER TIME IF YOU LOOK AT LENDING SUPPLY, WE ARE UP AT HIGH POINTS MONEY SUPPLY HAS COME DOWN THE TOTAL AMOUNT OF MONEY IN THE ECONOMY IS STILL VERY HIGH I THINK IT WILL TAKE MORE PAIN IN TERMS OF HIGHER INTEREST RATES BEFORE THEY WILL GET THAT DOWN TO 2% ON THE CPI. >> WE'VE TALKED A LOT ABOUT HOW THE FED WAS GOING TO ALONE FOR A WHILE. THIS IS NOT THE COORDINATED GLOBAL CENTRAL BANK MOVEMENTS WE WERE USED TO IN THE FINANCIAL CRISIS AND SINCE THEN. NOW YOU DO START TO SEE SOME OF THE OTHER CENTRAL BANKS LIKE THE ECB RAISING RATES PRETTY SIGNIFICANTLY, TOO, OR AT LEAST THE ECB WILL DO, TOO SOME OTHERS HAVE, TOO. WHAT DOES THAT MEAN TO THE GLOBAL ECONOMY WHERE WILL WE BE IN 2023 >> IT IS INTERESTING TO SEE HOW THE REACTION OF THE EUROPEANS ARE IN A DIFFERENT PLACE WITH THE UKRAINE WAR. IF YOU LOOK AT THE MARKET IN EMERGING MARKETS IN THE LAST SIX MONTHS, THEY HAVE GOTTEN STRONGER AGAINST THE DOLLAR. THE U.S. DOLLAR GOT WEAKER IT IS INTERESTING. A LOT OF THE EMERGING MARKET COUNTRIES HAVE BEEN AHEAD OF THE GAME IN OTHER WORDS, THEY RAISED INTEREST RATES FAIRLY AND THAT IS NOT HAVING AN IMPACT ON THEIR CURRENCIES BECAUSE THE CURRENCY IS BECOMING MORE ATTRACTIVE. IT IS VERY INTERESTING DEVELOPMENT WITH THE EMERGING MARKET CURRENCY LIKE THE YUAN IN KOREA AND THE THAI >> FOR YOU LOOKING TO INVEST AROUND THE GLOBE, WHERE DOES THAT LEAD YOU TO CONCLUDE? WHERE ARE THERE BARGAINS >> WE THINK THE PLACE TO BE IS INDIA. INDIA WILL GRADUALLY TAKE OVER THE ROLE THAT CHINA HAS BEEN PERFORMING IN TERMS OF PRODUCTION PARTICULARLY OF HIGH-TECH GOODS. A LOT OF PEOPLE DON'T THINK OF INDIA IN THAT LIGHT. IT IS HAPPENING, AS YOU KNOW, APPLE BEGINNING TO ASSEMBLE IN INDIA. TATA, THE BIG CONGLOMERATE IN INDIA, WILL TROINTRODUCE SEMICONDUCTORS MANY PEOPLE DIDN'T EXPECT THAT TO HAPPEN. EVEN THO