Wall Street has its eyes dead set on July's Personal Consumption Expenditures price index — the Federal Reserve's preferred inflation gauge — set to be released on Friday, andJ.P. Morgan Asset Management global market strategist Jack Manley believes the central bank will cut up to 75 basis points in the remainder of 2024, cutting rates by 50 points at the September meeting.
And you see 75 basis points worth of cuts this year, with 50 basis points of that being loaded in September.Yes, well, I think the first thing we have to take into consideration and Powell himself told us this at Jackson Hole last week, is that this is still very much a Federal Reserve.
I think we also have to have a conversation, uh, about more holistic approach toward equity investing.Falling interest rates.We saw that in CP I not too long ago easing wage growth.And when for so long, the mag seven has been the only game in town.And when it when it comes to asset allocation, given the fact that the rates are moving lower and likely to do so in the absence of a recession.That is a tricky, a tricky question, and and and I get it a lot.
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