race? let's get reaction from the hill's editor-in-chief and "the wall street journal"'s jillian melcher. bob, let's start with you. we had an amazing run in wealth. the fourth quarter affected some softness in housing. obviously, those aren't the numbers that the president wants to go into in 2020. how important are they? >> very important, charles. i mean, that is what trump has. he has the economy. the economy has improved. i think what you're going to hear from the president in his re-election campaign is what you've heard from prior candidates when the economy is booming is are you better off than you were four years ago? that's something the democrats will have to grapple with. it's a long way before 2020. we don't know what's going to happen with china. that china deal, if it happens, will greatly impact the market. but right now, it is the one thing that trump is going to repeatedly mention. of course, going after democrats for investigations but the economy being something that he improves.