• Was there a qualifying Fed cut?
  – After Q2 2025, the Fed held the funds rate at 4.25%–4.50% in May, June, and July 2025.(investopedia.com)
  – The first cut after that was on September 17, 2025, when the FOMC reduced the target range by 25 bps to 4.00%–4.25%, its first rate cut since December 2024.(uk.finance.yahoo.com)
  This matches the “first Fed interest‑rate cut following this discussion (post–Q2 2025)” condition.

• Immediate market reaction (“the second they cut”):
  – Around the announcement and projections, the Dow jumped as much as ~+1% intraday, the S&P 500 flipped from red to green, and the Russell 2000 (small caps/risk assets) briefly surged over 2% before paring gains.(finance.yahoo.com)
  – By the close that day, the move had partly faded: Dow finished about +0.5–0.6%, S&P 500 –0.1%, Nasdaq –0.3%, while the Russell 2000 held a small gain.(finance.yahoo.com)
  So intraday there was a clear, fast, upside spike—especially in the Dow and small‑cap/risk assets—even though it did not all hold into the close.

• Very short‑term follow‑through:
  – On September 18, 2025 (the next session), four major U.S. equity benchmarks (S&P 500, Dow, Nasdaq 100, Russell 2000) all closed at all‑time highs together, with the Russell 2000 up ~2.5%, described as a surge in risk‑on sentiment “after the Federal Reserve delivered its first interest‑rate cut this year and signaled more ahead.”(bloomberg.com)
  – Pre‑market that morning, futures for the S&P 500 and Nasdaq were already up roughly 0.8%–1.1%, and coverage explicitly linked record‑level opens to the prior day’s Fed cut.(actionnewsjax.com)

• Assessment vs. the prediction:
  Jason’s claim was that “the market will rip the second they cut that,” i.e., that the first cut would trigger a sharp, immediate risk‑asset rally.
  – There was an instantaneous pop right after the cut (Dow ~+1%, Russell 2000 >+2% intraday, S&P flipping positive) and then a broad, record‑setting rally within one trading day directly attributed in coverage to that first cut and the signal of more easing.(apnews.com)
  – While the initial “rip” partially faded by the close of the announcement day and was not uniformly strong across every index at settlement, the overall pattern—sudden upside spike in key indices and risk assets followed by record highs immediately afterward—is consistent with his directional, qualitative prediction.

Given that the first post–Q2 2025 rate cut did coincide with a rapid, noticeable upside move in major equity indices and risk assets in the immediate aftermath and into the next session, the prediction is best judged as right (even if the intraday move was volatile and not all of it stuck into the first day’s close).