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Why stock market is still up without rate cuts
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Even without any interest rate cuts so far in 2024 – and with the likelihood of just one meagre rate reduction by the end of the year – the stock market has been purring along.
PHOTO: REUTERS
Jeff Sommer
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The US Federal Reserve has disappointed investors in 2024, but no matter. The markets have adjusted.
Even without any interest rate cuts so far in 2024 – and with the likelihood of just one meagre rate reduction by the end of the year – the stock market has been purring along. That is quite an achievement, given the expectation in January that the Fed would trim rates six or seven times in 2024 – and that interest rates throughout the economy would be much lower by now.
