VITAL KNOWLEDGE: FED WOULD CUT 50BP IF NOT FOR TARIFFS Adam Crisafulli says weak labor data (BLS, ADP, JOLTs, ISMs, Challenger) supports Fed easing. Without tariff-driven inflation risks, the Fed would likely cut 50bp on Sept. 17 and 25bp at the next two meetings. Instead, investors should expect three 25bp cuts (75bp total) this year. For stocks, lower rates help, but the depth of labor weakness is a growing concern.(*Walter Bloomberg)