Inflation wasn't transitory, they lied. It also wasn't because of Putin, that also was a lie. It was because they printed historic amounts of money and flushed it into the economy and everyone went on a drunken spending binge. So then they waited until way too late to raise interest rates and hiked extremely fast basically grinding the economy into ashes, at least for the common person. It's an election season so of course they can't acknowledge how bad things really are, but the Fed is panicking and just cut interest rates by 50 basis points. Things are much worse than you are being told. What will this cut do for the common person, or for the poor? Absolutely nothing. This helps wealthy people get cheaper access to debt, or to refi high interest rate debt, but zero impact on the peasants. If anything, this is a signal that a lot more money printing is coming and with inflation still way too high, it will soon go much higher. Inflation is a disease and it has ravished our economy. Instead of prices coming down due to innovation and technology, they only keep going up at varying speeds. We should be experiencing price deflation on most items, but all the gains over the past 100 years have been stolen by inflation. They will try all sorts of ways to stimulate the economy in the next few years, and they will all hurt the poor the most.