This marks the third time the Powell Fed has embarked on cutting without the economy facing an obvious downturn. But the stakes differ from 2019 and 2024 given both the inflation profile (stickier) and the politics (a confrontational White House) The goal is something akin to 1995-96, but the risks are 1967 (inflation) or 1990, 2001, 2007 (recession) https://www.wsj.com/economy/central-banking/federal-reserve-jerome-powell-rate-cut-0df13920?st=Ypqn5R&reflink=desktopwebshare_permalink(Nick Timiraos)