The Federal Reserve cuts rates by 25 basis points, but it's not just what the Federal Reserve did. It's what Jerome Pal said. What Jerome Pal says at these meetings tends [music] to move markets.And what did he say. So, I don't think that a rate hike is anybody's base case at this point. And I'm not hearing that.What you see is um some people feel we should stop here. Some people feel like we should cut once or more this year and next year. And this is where we start [music] quantitative easing, QE, but the ...