I think for the moment the big chains are running like elephants. They tend to be behind the cheetahs and the panthers. I think they lumber along, and I think this is not necessarily the time to move. I think the turnaround isn't going to be as routine or orderly as you might expect. I'd want to stay with the strength right now.
Rate hikes bite different sectors of the economy at different rates. For example, one of the key areas that was hit hard and appears to be slowing down is housing. Consumer spending will take some time to slow down, maybe three to six months out. But in any case, what the Fed is targeting is GDP of 5 percent this year and a GDP hopefully next year of closer to 4 to 4-14 percent.