That progress would be better if there weren’t competing interests between the fed and Congress & the White House. Assuming the fed knows even a sliver of what they’re doing, they’re fighting against inflationary policies and dereliction of duty: environmental policies that restrict energy, distortions in the transportation market, unsecured borders, proposed shiny, new credits in housing. It’s also advantageous for the current regime to press for a drop in interest rates back below historical averages prior to an election. In theory the fed and the WH are independent, in practice they’re of one mind.
The question Is if we’re already in a recession as the metrics to measure it are dubious. (It should be private GDP/per person). Garbage data = garbage decision making. Let’s face it, it’s been a period of stagflation, which is why there’s no happy talking by media and Democrats that the economy isn’t that bad.