50 bps.

The company I invest through thought 25, while I predicted 50.

Primarily because of... not economic conditions, but political ones.

I think if there wasn't an election right around the corner, they would have gone 25.

Powell is doing a pretty good pitch for what he's trying for (it feels like, but it's been real back and forth, up and down, and is currently slightly down even outside of the sm cap/Russell).

More important for me, he's redirecting housing questions to not just supply, but zoning concerns in places that people want to live, giving signals on the micro and all that.