Same Loss, Same Noise, Opposite Schedules: Noise Structure and Optimizer Normalization Jointly Determine Whether Learning-Rate Cooldown Helps

The cooldown phase of a warmup-stable-decay (WSD) learning-rate schedule, now a default in large-model pretraining, lowers the final training loss in some settings and does nothing in others. We give a provable account of which case obtains, and it turns on two properties together: the structure of the gradient noise and whether the optimizer normalizes its update. On a strongly convex objective with multiplicative (gradient-proportional) noise, stochastic gradient descent contracts geometrically at a constant learning rate, so cooldown has nothing to improve. Under the same objective and noise, sign-based and normalized methods, the standard surrogates for adaptive optimizers, settle on a noise floor of order η2 and reach the minimizer only as the learning rate is driven to zero; any additive noise then reinstates a floor for every method. The mechanism is elementary: an SGD step shrinks in proportion to the gradient and so anneals itself, whereas a normalized step keeps unit scale and cannot. We solve the signSGD stationary law on the quadratic exactly and obtain the floor constant in closed form, prove a local form of the dissociation under (L0,L1)-smoothness, extend the floor to normalized SGD in dimension d>1 by a scale-invariance argument, and establish robustness to momentum and heavy-tailed noise. Simulation confirms every prediction, and we demonstrate the resulting noise-regime diagnostic on a real classification task with directly measured gradient noise. The mechanism explains whether cooldown helps; the interior cooldown fraction used at scale lies outside stationary landscape-and-noise geometry.