This talk is the final of three that Dr. Ed Podvoll gave at Naropa University in 1986 on “countertransference.” Ed focuses on the act of interpretation—when a psychotherapist verbalizes to a client their hypothesis of what is psychologically going on for that client. Ed speaks to the pressure that mounts for a therapist to say something meaningful. Ed describes varieties of such interpretations and their effect—for good and ill—on giver and receiver. The talk closes with a Q&A session.