Tom Hainlin, senior investment strategist at Bank of America, said that we don't have a particular view on whether to cut interest rates by 25 basis points or 50 basis points. So it wouldn't be said that we would necessarily be surprised. Looking ahead, at least between now and the end of the year, two more rate cuts should be expected. With inflation starting to move closer and closer to target, it is not surprising that Powell is focusing on the jobs side of the mandate, and he is concerned about potential downside risks in the labor market. There are indications that the labor market may be a little weaker than the data suggest. So it seems to us to be an insurance measure relative to the labor market to prevent unemployment from rising and to keep the economy running well.