I don't think Powell's gonna do it. From the CPI, you got a 95% chance of a 25 basis point reduction in September, but that's it. The economy's on fire. We're killing it and the consumer is still strong given that data last week from credit cards. You're not going to see rate reductions with this strength in the economy right now. There's nothing wrong with the economy and that's why I'm, I don't think we're going to get any rate cuts beyond the 25 bps. I look at the odds, it's 95% for 125 basis points. I am not investing on the hopes of any rate cuts this year. I don't agree on the 15% tariff or reverse tax or industrial policy on American chip makers going into China. I mean, it's a very strange policy. Pick one country, tax chips going in there. I don't like it. I would prefer to see policy like this that simply says to these companies, you're allowed to sell chips anywhere in the world you want one generation back.
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