More accurately: rates are being cut because the economy is a whole lot weaker than the 'official' figures show. The US is caught in a vicious circle: inflatio

More accurately: rates are being cut because the economy is a whole lot weaker than the 'official' figures show. The US is caught in a vicious circle: inflation is very high and needs high interest rates to combat that. But high interest rates mean that the US needs to find more than a trillion dollars a year for interest payments to debt-holders. And the US doesn't have a trillion dollars to spare, so needs to borrow the cash that is used to pay off that interest. And that means the national debt grows by far more than a trillion dollars per year. Rinse and repeat. Like it or not. The US is in a financial death-spiral, and has been since the late 1980s.