The stock market's bubble bust will only be halfway over when the Fed starts cutting rates - and there will be much more pain ahead, legendary investor Jeremy Grantham says

• The stock market bubble bust will be only halfway over once the Fed starts cutting interest rates, according to Jeremy Grantham.
• "You tell me when the first interest rate cut is, and I will tell you when the second half of the pain is going to start," he said.
• Central bankers have raised rates by 475 basis points to lower inflation, which Grantham says risks pushing the US into recession.

The bust of the stock market bubble will only be halfway over when the Federal Reserve starts cutting interest rates, according to GMO founder Jeremy Grantham. He expects that to happen in late 2024.