I think you have it upside down, Nipper. Either way, today's so called "action" is just an indication of anticipation for the rate cuts coming soon...…...……...and they WILL!!! I guarantee it. Just watch as the market will take the next dive how quickly they will try to rescue it (unfortunately, it will most likely be too late).
Remember......FED's actions are usually just "reactions", they are too dumb to look ahead!!!
Or....maybe they just want this market mess to correct itself (just in time to blame it all on Trump).