Investors doubt Fed rate cut outlook as economy booms
03/25/2024 22:43
The Federal Reserve has maintained its expectations for three rate cuts in 2024, but investors are growing wary of the forecast, projecting fewer cuts. Gradient Investments Portfolio Manager Keith Gangl joins Yahoo Finance Live to discuss the market implications. Gangl notes that "the economy is doing very well," adding that he "didn't see a need for a cut." If the economy maintains its strength, "there's no reason to cut." He highlights that any rate cut decision will remain data-dependent. Gangl advises investors to "stay diversified" in their portfolios as uncertainty surrounding rate cuts persists. He acknowledges that there has been a broadening out in the market: although the "Magnificent Seven" stocks have driven market gains, "there's other values" outside of those top stocks. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
The Federal Reserve has maintained its expectations for three rate cuts in 2024, but investors are growing wary of the forecast, projecting fewer cuts. Gradient Investments Portfolio Manager Keith Gangl joins Yahoo Finance Live to discuss the market implications.
Gangl notes that "the economy is doing very well," adding that he "didn't see a need for a cut." If the economy maintains its strength, "there's no reason to cut." He highlights that any rate cut decision will remain data-dependent.
Gangl advises investors to "stay diversified" in their portfolios as uncertainty surrounding rate cuts persists. He acknowledges that there has been a broadening out in the market: although the "Magnificent Seven" stocks have driven market gains, "there's other values" outside of those top stocks.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith