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Isn't that a subset of bullet 2?
Sorta, typically we think of raising/lowering interest rates to combat macroeconomic issues. Raising rates cools an overzealous economy, lowering rates fires up a slow economy.
However, we have a slowing economy with hot/rising prices. Either way you move rates you'll likely end up exacerbating one of those issues. So the knee jerk reaction to lower rates could backfire.
IMO the difference is that it's blatently self-serving and doesn't even pretend to be concerned with the long-term health of the economy.