[Fade_Dance]

>Interest rates only go down to stimulate growth

The Fed targets price stability and employment, not growth.

Of course that is largely correlated with stimulating growth as a derivative of that, but certainly not "only" to stimulate growth. For example, the current cutting cycle has far more to do with inflation that it does growth. The Fed's primary concern currently is growth accelerating into more inflation.

There are other reasons for cutting as well. For example, funding stress. Repo funding stress caused an interest rate pivot not too long ago (and repo funding stress is rising once again, which will be a factor in the current rate decisions.)