If growth is happening with high interest rates then that means capital can remain out of the hands of the public but debt replaces it
If I’m a billionaire my goal is to own everything and have everyone in debt to me based on my personal currency I issue - like points or miles or a corporate debt vehicle for example.
Surely we aren’t seeing a increase in debt also right? /s
The Fed targets price stability and employment, not growth.
Of course that is largely correlated with stimulating growth as a derivative of that, but certainly not "only" to stimulate growth. For example, the current cutting cycle has far more to do with inflation that it does growth. The Fed's primary concern currently is growth accelerating into more inflation.
There are other reasons for cutting as well. For example, funding stress. Repo funding stress caused an interest rate pivot not too long ago (and repo funding stress is rising once again, which will be a factor in the current rate decisions.)