when he saw the dow go off the cliff as much as 478 points. on the upside, he got a rate cut and the fed chairman said they would end the policy of quantitative tightening in the next couple months, which is something that the president wanted to have happen. and you heard it mention a second ago, was the fed giving in to pressure from president to do what the president wanted powell to do. here s what powell said about that. we never take into account political situations. there s no place in our discussions for that. we don t conduct monetary policy to prove independence. we conduct monetary policy in order to move as close as possible to our statutory goals. so again, powell said he s not looking at a long series of rate cuts like you would during a recession. they may adjust depending on how things look going forward. powell said we ll do what we need to do to support the economic expansion. as mentioned, china plays