I think every study does consider the question--every study I have seen--I have not read them all, but I have read a lot of them--every study that I have seen does consider the question and consider regulation as one of a series of factors.
Powell emphasizes that studies consider regulation as a factor in market issues.
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If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.
Part of that is due to the start-stop nature of the tariffs that have been introduced.
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