The Fed just caused a recession

The Federal Reserve just dropped rates by 0.25% to 2.10%.  This just caused a recession which will show up in about 3 months.  The NBER will say that November 2019 was when the recession officially started.

But .. but.. but.. the Fed is trying to prevent a recession and extend the recovery.  Wrong.  First of all, there are banks (and old people) who depend on interest to live.  When you cut their income, they will have to cut expenses to make up for it.  Once someone starts to cut spending, it will ripple through the economy in a butterfly effect.

Second, expectations become reality.  The Fed has lots of data that we don't know about.  If they are worried, then Joe Blow on Main Street will worry too.

Third, they just caved to the bond vigilantes. The Fed has to be macho and take control of the situation.  Instead they are listening to the little whiny brats, who will never be happy.  Its like negotiating with terrorists.  Just say no.  The Fed has already shown that they have no spine.  Now they will be forced to cut rates again and again and again.  And it won't do any good.

The party is over.  The only "cure" now is massive government spending to get us out of the recession.  Oops, I am a year early.  But I guarantee that is where we will be headed in a year.

See also: Rate-Cuts Aren't Going To Be Insurance; They Are The Alarm Bells
Do rate cuts cause recessions?

Update:
The Dow reacts by dropping 333 points.  They wanted a 50-basis point rate cut.