### Comment:
Only like 20% were expecting a .50 bps cut. They fell because his “midpoint adjustment” comment when the market had 4-5 cuts priced in. He signaled only 1-2.

### REPLY:
The selloff wasn’t about rate cuts, I mean the initial one was but we recovered all of it in the next 24 hours.  The last mini-recession was because we went straight from “trade talks almost done” to “trade talks are fucked, EVEN MOAR tariffs.”

### END.