1. The Fed's aggressive 0.5% rate cut risks devaluing the dollar, potentially spiking inflation and commodity prices, while destabilizing the U.S. financial system. 2. Realty Income's valuation is at risk due to the potential for rising inflation and long-term interest rates, impacting consumer spending and retail property lease demand. 3. The author downgrades Realty Income from Buy to Hold, waiting for better clarity on the direction of the economy and/or a significant price decline to open a better risk-reward entry.