A Fed rate cut could actually mean bad news for stocks, analyst says

Tue, 03/26/2024 - 15:40

Fed Chair Jerome Powell — U.S. Federal Reserve Board Chairman Jerome Powell speaks at a news conference at the headquarters of the Federal Reserve on December 13, 2023 in Washington, DC. The Federal Reserve announced today that interest rates will remain unchanged.
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A Fed rate cut usually signals something bad happening, Bespoke's Paul Hickey told CNBC.
But the stock market rally doesn't really need the Fed to cut rates in order to keep climbing.
Instead, it is primarly being driven by AI mania, he said.

All eyes are on the Federal Reserve to cut rates this year, but it might not be the market pick-me-up investors are rooting for, Bespoke co-founder Paul Hickey said on Tuesday.