No, we're not seeing those. Because the economy has excess capacity our predominant concern is downward pressure on inflation. Yes, when the dollar goes down it causes some prices to rise and that gets built into our inflation number, but our inflation expectations are extremely well anchored at 2%, so that too is a temporary effect. It lasts about one year or a little longer and then it falls out of the numbers, which is why we talk sometimes about underlying inflation. That's an important concept.
On April 28th, 2015. See this statement in context.