 The Fed wants to do one rate cut this year. They want to cut rates all around because when they raise interest rates like they have for the last two years, that causes mortgage rates to go up. It causes credit card interest rates, car payments, student loans, all other interest rates to go up. So they want to cut rates, but they can't because higher interest rates are an inflation-fighting tool. So the Fed needs to have higher interest rates to help get inflation under control. It's not as powerful as that balance sheet that we just talked about.