It is real weird to see the Fed suggesting rate cuts with no recession or core financial stress being immediately apparent. Normally the Fed doesn't really cut

It is real weird to see the Fed suggesting rate cuts with no recession or core financial stress being immediately apparent. Normally the Fed doesn't really cut rates as some kind of christmas present to the economy. I have my doubts they'll actually do that and I suspect that Powell was just "jawboning" because they're trying to engineer a soft landing through talk. The fact that they're even talking about cutting rates now means that the cheap money era is not over and the they're feeling political pressure to cut rates. If we do hit a recession you can bet that they'll slash rates to zero again. They have never once stated any kind of commitment to higher rates and I don't understand how people on the internet read any level of hope into the idea that their viewpoint has changed in any fundamental way.