There's no question that, given the right circumstances, the Fed wouldn't hesitate to spend 175 basis points. But they really have to have a good reason to put an insurance policy out there.
If we are in an economy that is weakening ... that's not good for profits.
There's a difference between good growth and bad growth at this stage of the cycle and this is clearly not the kind of inflationary growth that the Fed gets overly concerned about,