Tom Lee says the bar is lower for the Fed to cut and so stocks are set to do ‘quite well’

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 72%

Investment Strategy News

Stock Markets,Starbucks Corp,Business News

Cracks might finally be forming in Fed Chair Jerome Powell's firm stance to keep interest rates high, according to Fundstrat Global Advisors' Tom Lee.

Cracks might finally be forming in the Federal Reserve's firm hawkish stance, according to Fundstrat Global Advisors' Tom Lee. As investors expected, the Fed kept interest rates unchanged after central bank policymakers had their meeting. But recent pressures weighing down consumer spending might finally be the driver that forces the Fed's hand, said Lee, who is head of research at Fundstrat.

" To add to his case, Lee highlighted a comment Fed Chair Jerome Powell made at a press conference on Wednesday afternoon, following the central bank's rate decision: "We're also prepared to respond to an unexpected weakening in the labor market," Powell said. Investors will get some insight on that front Friday morning when the April jobs report is released. All in all, Lee thinks there's a "good probability" that interest rates are currently at their peak.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lee Lee Supermarket sold to California-based company for $2.2 millionJoel Foster is a Multimedia Journalist at KGUN9.
Source: kgun9 - 🏆 584. / 51 Read more »