Why Wall Street is still bullish on stocks even with March rate cut hopes dashed
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Federal Reserve Chair Jerome Powell stated that inflation is coming down, growth has been strong, and the labor market is strong, which is good news for the stock market. Strategists believe that the timing of the Federal Reserve's interest rate cut is not as important as the fact that there will be an easing of policy, creating a positive environment for companies. Consensus estimates project interest rates to end 2024 around 4%, indicating that the bullish outlook for stocks in 2024 and 2025 remains unchanged. Short-term investors are more concerned about the timing of the rate cut, while long-term investors focus on underlying fundamentals like earnings. Overall, Wall Street remains optimistic about stocks despite dashed hopes for a March rate cut.
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