Nobody remembers now the soft-landing Fed' speeches. With this 0.5% cut, it now becomes clear what they meant for soft-landing: bailing-out, and printing more money in hope this would making the recession and inflation risks dissipate by themselves over a much longer time frame. Only time will tell if there will be a soft landing indeed.
I think people are getting tired of the boom/bust fed model to save another asset class in crisis. They've gotten away with it in the past because was assumed the general population wouldn't correlate the fed with certain end result. People are watching now and are quite aware of what's going on. It's musical chairs, eventually no chairs left.