a 50 basis point rate cut was already priced into the market

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10. this actually *is* being used to fight recession

the chinese response has been to shut down economic activity, which has a global ripple effect. this is not the stock market crashing for no reason, it saw a sudden large contraction shock and repriced everything.

this is actually on of the more appropriate uses of rate cuts we've seen in a while as it's very closely tied with an actual economic contraction event.

i agree that donnie has no clue, but unanimous fed decisions for a 50 basis point cut between fomc meetings just don't happen without there being some solid economic basis for it.

companies across the globe are scaling back business and travel and so on.