This must be fairly basic I fail to understand. According to Weinberg, QFT Vol2, Ch.18 (The preamble)
When we replace bare couplings and fields with renormalized couplings and fields defined in terms of matrix elements evaluated at a characteristic energy scale $\mu$, the integrals over virtual momenta will be effectively cut-off at energy and momentum scales of order $\mu$.
Where does this statement come from? How are the loop momenta greater than this scale (squared) integrated out? Or in what sense are they integrated out?
If I understand correctly, when we calculate counterterms to relate bare parameters to renormalized ones (at a certain scale they are equal) then the counterterms are essentially those that if taken under the regulated loop integral (which suppresses in one way or other the high momenta modes) gives me the result which is "physical" (in the sense that one can relate it to your favourite scheme to calculate actual observables)
But take e.g. the hard cut-off as regulator. The modes close to the cut-off do not get suppressed at all, no matter how far away I am from my renorm. scale, since the loop integral is unchanged in these intervals (up to a very large constant).
So what does Weinberg mean?
The linked question all have answers pointing toward the opposite fact: The cut-off is the scale that (trivially) suppresses the high energy modes. Not $\mu$. But clearly, this seems weird because following Weinbergs line of thought, he then proceeds to let all parameters flow by RG flow, very similar to how one would to in classical statistical field theory. Without the previous fact though there's no actual interpretation of what changing $\mu$ does (it does not get rid of unnessecary DOF).