The Fed is reducing the interest rate aggressively because it is indeed convinced that it is needed in order to shorten the period of slowdown in the US economy, but this policy is undertaken on the assumption that it will not accelerate inflation.
This assumption is based on both the rise in productivity that characterizes the era of information technology and the longstanding credibility that the Fed has acquired in its struggle to maintain price stability. In that, too, we are very different from them. 2.