#fed #jeromepowell #investors #yahoofinance
Federal Reserve Chair Jerome Powell has kicked off his two-day testimony before the Senate regarding the state of the economy, giving potential signals as to how the Fed might make future policy decisions. Deutsche Bank Private Bank chief investment officer Deepak Puri joins Catalysts to discuss Powell’s recent comments and what they mean for the markets going forward. “75% odds of a September rate cut — I think that’s a pretty decent signpost. However, I would like to caution the listeners just to think about that rate cut as a panacea for another leg up in the market. Just look at what happened at the ECB. ECB cut rates June 6th and the Euro stocks are actually down 2.5% over the last one month. So a rate cut does not necessarily mean that it’s going to be a catalyst for another leg up in the in the equity markets. I think there are a whole host of other factors at play here. There’s a saying: don’t really fear the pause, fear the cut, because a lot of unknowns are still there with regards to the cuts, the magnitude, the duration,” Puri tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
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