Federal Reserve Chair Jerome Powell. - AFP via Getty Images Everyone knows that cutting interest rates is good for the stock market. Or maybe not. As Humphrey Neill, the father of contrarian analysis, liked to say: “When everyone thinks alike, everyone is likely to be wrong.” The stock market’s reaction to Federal Reserve rate cuts is a perfect example. Consider all occasions since 1980 when the Fed cut the target federal-funds rate. In 40% of those cases, the stock market was lower a month later; 37% of ...