We are in a recession.
But it's a controlled one and is impacting very precise sectors. We need those rates to come down quick and stabilize the millions who risk losing their homes when they refinanced with an adjustable rate.
Then these folks can breathe and spend again and the economy will recover, companies will make more profits and jobs will not be flushed.
The dollar will suffer overseas and so thats why the Fed keeps doing this in miniscule movements.
Economics is played on a large stage and most of the movements are artfully crafted illusions accompanied by a grand score.
;-)