Therapeutic action involves communicating a sense of hope and safety in the context of a relationship between analyst and analysand that includes interesting and vitalizing exchanges. During this process, both participants in the therapeutic relationship grow and develop. Four clinical vignettes illustrate different ways hope operates in the therapeutic affective exchange. The 1st shows the stabilizing aspects of delusional hope. The 2nd and 3rd vignettes show how hope enters the implicit memory system: in the 2nd vignette, through microscopic exchanges of feeling on the “local level” and, in the 3rd, through a “now” moment that provides a vitalizing change from despair to hope. The 4th uses declarative interventions about hope, so that hope can enter the explicit memory system.