The Federal Reserve is holding interest rates steady while maintaining a projection of three rate cuts for 2024. Canaccord Genuity Chief Market Strategist Tony Dwyer joins Yahoo Finance Live to discuss the interest rate outlook, advising investors, "Don't fight the Fed."
Dwyer states that the Fed's announcements reinforced the central bank's intention to cut rates. However, "the problem" is that the emerging inflation data "is fully incomplete." Dwyer adds that the private credit market "neutralized the impact" of the higher interest rate environment, making it "tough" for markets to obtain reliable data that supports an easing cycle.
Dwyer highlights that "the key" to the economy's resilience lies in the labor market. He suggests that as long as employment remains robust, "the Fed may not even cut rates at all."
#youtube #stockmarket #interestrates
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