Minerd Says Fed's Surprise Rate Cut Won't Have Much Impact at All

The transcript discusses the Federal Reserve's 'shock and awe' effort and its potential market impact. It highlights that the timing of such actions is less relevant than the necessity for the Fed to demonstrate active policymaking. The discussion concludes that rate cuts may not significantly boost earnings or consumer spending.

What does the speaker imply about the Federal Reserve's need to act?

What is the speaker's opinion on the impact of a rate cut on consumer spending?