Who said that asset prices will rise when the Fed cuts interest rates?

1. From January 2001 to June 2003, the Fed cut interest rates by 550bp in 29 months. During the interest rate cut cycle, the US stock market continued to fall until the end of the interest rate cut, when the US stock market began to rise for five years;

2. From September 2007 to December 2008, the Fed cut interest rates 10 times, with a cumulative rate cut of 500bp. During this interest rate cut cycle, stock prices fell until the end of the interest rate cut and a bull market.