As of November 28, 2025, the S&P 500 is at 6,849.09 and has only briefly traded above 6,900; it has not yet reached 7,000. (apnews.com) The Federal Reserve, under Jerome Powell, has not begun what would commonly be described as an “aggressive cutting program” in 2025: following a single 25 bp cut in December 2024, the Fed held rates steady through mid‑2025 and then delivered just one additional 25 bp cut in September 2025 to a 4.0–4.25% range, while explicitly signaling caution and only penciling in a couple more small cuts. (forbes.com) Since Chamath’s prediction is conditional—if Powell starts an aggressive cutting program, then the S&P could quickly rerate to ~7,000—and the precondition (an aggressive, multi‑step cutting cycle starting in 2025) has not clearly occurred yet, the scenario he described has not actually been tested. Moreover, because markets are still below 7,000 and future Fed actions and market moves beyond November 2025 remain unknown, it is too early to determine whether his conditional call will ultimately prove right or wrong.