I know I'm being absurd. It's no more absurd than thinking that lower interest rates will inspire companies like Cisco to expand capacity and make more routers so that no one will buy them even more. It's no more absurd than thinking that low interest rates will raise technology spending and have corporations gut all the equipment they bought last year in order to load up on the latest stuff that they don't need because they're still trying to figure out how to get the most out of last year's stuff. When your only tool is a hammer, every problem looks like a nail. When your only tool is rate cuts, every problem looks like it can be solved with easier money.
Economies are cyclical.
At some point, maybe sooner, maybe later, the U.S. economy will take off again. Maybe it's already happening. And if it's not already happening, the government can continue to massage statistics and use all sorts of wacky inflation deflators in order to demonstrate that GDP is rising even if it isn't. Just like it did on the first quarter GDP report. Whatever it takes to keep that consumer happy, to keep that consumer spending.