With that said, I don’t think that pain will be as hard and prolonged as 2022 because this is a political issue, and politicians need to be liked. Maybe not for a specific moment, but they do long-term. Unlike them, the FED is independent, they are appointment by The President and confirmed by The Senate. They cannot be easily fired, and certainly not due to policy disagreements. They have to do what needs to be done, whether they’re liked or not, and that’s why they’re independent. Of course it’s more nuanced than that with pressure from the Government, Treasury, and the elite, but it didn’t bothered them to crush markets in 2022 during a prolonged period of time. Nasdaq went down almost 40%. Point is the Admin cannot tolerate as much pressure and if small businesses need to close, unemployment raises, and wealth is reduced significantly, Trump’s popularity will be seriously harmed. Although you never know with this guy, and mid-terms are still far from here. It’s hard to establish a signal (at least better than big unemployment spikes) but this key difference gives a framework in terms of pain tolerance and time duration.