 Number three. Federal Reserve Chairman Jerome Powell will speak to the House Financial Services Committee today as part of his semiannual update to Congress. On Tuesday, Powell seemed to signal the Fed is closer to cutting interest rates. It doesn't seem likely that the next policy move would be a rate increase. We don't take things like that off the table, but that does not seem the likely direction. The likely direction does seem to be in as we make more progress in inflation and as the labor market remains strong, we begin to loosen policy at the right moment.