The market seems to be leaning back to the dovish side with a .50% rate increase in December to 4.5% for the Federal Funds rate, and the perhaps one more .25% rate increase early next year. The hawkish scenario is over 5% for the Federal Funds rate. Our issue is when you raise rates by 4% in less than 12-months the odds of a recession are very high. It takes times for rates to fully impact the economy and assets like housing to reflect where the market is headed.