Confused

I'm no economist or expert or nuthin. So I have a hard time understanding complex issues. But here is a question that I've been wondering about. Last week we were told that the economy was turning around. New home sales were up. Existing home sales were up. Yesterday the stock market went up 11%. CNBC staff was having orgasms on air. It was like 1999 all over again.

So if things are so like totally awesome, why did the Fed have to lower rates to 1%? Did you all notice how oil spiked up 7% after the announcement. Or is gas so cheap these days that we don't care anymore about the price of oil.

Just wondering.