I remember back around~*December 1999 everybody but the fed realized that a cut was essential.
I think up to that point, that was their biggest mistake.
They fell way behind the curve and the crash was inevitable.
They soon realized they had gone too far, and in 2000 started to drop rates like a stone.
If they could have done things differently, I'm sure they realize they should have reacted that December.
The rest is history!
I think we are getting close to a second boo-boo.
But when the bottom drops out, like December 1999, it's too late.