1. Quick rate cuts provides liquidity to the economy, and would result in consumer price inflation or asset price inflation. The expansionary move fuels the self-reinforcing uptrend that defines a boom.
2. High Fed Fund Rates will stall growth, but will bring inflation down.
3. During a self-reinforcing boom, wall street analysts will feel great pressure from their clients (investors, fund managers) to act against their own bearish believes.
4. The driver of a bull market is usually caused by a cultural shift of money flow.