Eric Schimpf, President and co-head of Merrill Wealth Management, forecasts that there will be two further interest rate cuts by the end of this year. This prediction likely reflects his analysis of current economic indicators, such as jobless claims, and overall market conditions.
Positive
If Schimpf's prediction comes true, the reduction in interest rates could stimulate economic growth and support stock market performance. A lower interest rate typically makes borrowing cheaper, potentially boosting consumer spending and business investments.
Capitalist Pig hedge fund manager Jonathan Hoenig weighs in on market rallies, his concern for everyday Americans amid inflation, and his stock pick.
Oct 11, 2024, 12:25 PM
JPMorgan Chase & Co. chief Jamie Dimon on Friday sounded the alarm about "critical risks" to the U.S. economy in the bank's third quarter earnings report.
Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the market rallying following the inflation report, Jamie Dimon's warning of geopolitical risks, and how he fared during Hurricane Milton.