VIDEO: Powell Confirms Policy Adjustment, But...
The market is already overbought and its P/E multiple is getting stretched.
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In today’s Daily Rundown video, Chris Versace reviews Fed Chair Powell’s Jackson Hole comments and shares why he’s questioning the market’s expectation for Fed rate cuts this year, noting some concern reflected by the CME FedWatch tool (pictured below)
"The probability that the market sees five rate cuts by the end of the year ... isn't that far off from three rate cuts by the end of the year," he said. "I get a little concerned when I see this, I think the market is getting a little out over its skis."
Versace also explains how the Portfolio is preparing and positioning itself for September, which is typically the poorest-performing month for the stock market.
