In a discussion on Yahoo Finance Live, Gradient Investments Portfolio Manager Keith Gangl shared his thoughts on the market implications of the Federal Reserve’s forecast for three rate cuts in 2024. While the Fed has maintained this prediction, investors are beginning to doubt it and expect fewer cuts.
Gangl emphasized that the economy is performing well and does not see a need for a rate cut at this time. He believes that as long as the economy continues to show strength, there is no justification for a cut in interest rates. Any decision to cut rates will depend on data-driven factors.
In light of the uncertainty surrounding rate cuts, Gangl recommended that investors remain diversified in their portfolios. He acknowledged that while certain top stocks have been leading market gains, there are still opportunities for value outside of these select stocks.
For more expert insights and the latest market updates, viewers can watch the full episode of Yahoo Finance Live.