Oh No A Stonks Emergency

It was Larry Summers-led conventional wisdom that we'd have to have 10% unemployment for YEARS to battle inflation - and this would be more than worth it - but if stonks go down a bit it's time to CUT CUT CUT.

"I'm calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting - and that's minimum," says Wharton's Jeremy Siegel: pic.twitter.com/s4CgWx962Q

— Squawk Box (@SquawkCNBC) August 5, 2024

I wonder if Larry will suddenly find Rate Cut Jesus if his stonks are down?