Big rate cuts are coming! Old logic: Economic growth is too fast, unemployment is too low, leading to inflation. So whenever the economy heats up, the central bank rushes to raise interest rates to cool it down. New Fed Chair Kevin Warsh: AI-driven productivity boom reduces costs and increases output, enabling high-speed growth under deflation. With inflation no longer a threat, the Fed should cut rates to direct more funds into the real economy and tech R&D.