Historically, the Fed lowers interest rates when the economy is struggling. “Cheap money” encourages additional borrowing. The belief is that more people will use loans to fund new projects (or spend) which adds growth to the economy (or company). Rates are usually lowered to offset high unemployment (currently low) or increasing inflation (seems to be a point of debate). Stock valuations are typically falling when the Fed decides to lower rates...or there is an expectation they will fall if not supported. But it is different this time. We are not starting with relatively low stock valuations. We continue to trade near valuations only experienced in pre-recession periods. We have close to historic low unemployment numbers. The same people screaming (or tweeting) for lower rates are also claiming we have a strong economy.