jonathan: joining us to discuss is oksana aronov, priya misra, and robert tipp. oksana, that interplay between the federal reserve and trade policy from the white house, just talk to us about it. oksana: the fed went from the frying pan into the fire with their announcement. powell never really had a particularly good reason for the cut, right, he kind of cited increasing uncertainty overseas, slowing conditions overseas, perhaps the lower inflation we are seeing, which by the way, did not induce the cut in 2017 when we saw lower inflation. but they decided to use it as reason this time. and trade tensions, of course. he tried to walk a fine line by staying middle ground, saying this is a midcycle adjustment. and then in a sentence-first, verdict-later fashion, the president then delivered precisely what powell cited as the reason for the cut, and turns it into an easing cycle probably, if the threat materializes, this threat of additional tariffs from a midcycle cut. so in this fashion, trump has got powell's back against the wall, and the fed has essentially cho