Economy That bad? How the US economy stacks up to past rate cut cycles Updated : July 29, 2019 12:17 PM IST The US Federal Reserve is seen launching on Wednesday its fifth interest rate-cutting campaign since 1995. US consumer prices rose 1.5 percent in the 12 months through May. The Standard & Poor’s 500 stock index turned sharply lower ahead of rate cut cycles that began in 1998, 2000 and 2007. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.