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My questions pertain to the immediate, mid-range & long-term impacts of the Trump/Musk funding cuts, program terminations & federal staff reductions, e.g. ending Head Start cuts off preschool services for 800,000 children and also ends such child care for 1,000's of working parents; funding/program cuts at US DOL, specifically ETA, will kill or strictly limit workforce programs & services nationwide. Anirban & Zack - what does your crystal ball tell us?
Given the dramatic policy changes this year, and assuming stubbornness alone will keep them intact in some form or other until 2028, if a new administration comes in a reverses some of these tariff policies, etc. how long will it take for the impacts to land on a reversal in passed-along cost increases? Or do you expect there will be some sort of a normalization before then?