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Fed Chair Signals Rate Cuts Ahead, Markets Zoom Higher | Lance Roberts
Jerome Powell just made his long-awaited speech at Jackson Hole and sent a strong signal the Fed will start cutting interest rates due to increasing concern over growing economic weakness.
The markets, little surprise, took this as fantastic news and practically every asset class rose sharply in price.Is this sustainable?
Assets, after all, are valued based on expected future earnings.
If the economy is slowing, shouldn't that bring valuation multiples *down* not *up*?
Lance Roberts and I discuss that in depth today, as well as where inflation, earnings estimates and the housing market are…
The skinny
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