What the Fed rate cut means for investors [Fortune]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Fortune
funds rate since the early days of the COVID-19 pandemic, a 50-basis-point drop that Chairman Jerome Powell signaled is likely the first of many. With inflation at its lowest level since early 2021, an uptick in the unemployment rate, and growing worries about softening consumer spending, the cut was anything but a surprise. But it does signal the start of a pivot in how the average investor should position her portfolio, as wealth planners and other experts tell Fortune For starters, investors should expect short-term volatility, especially if the Fed embarks on a sequence of rate changes, says Chester Spatt, finance professor at Carnegie Mellon's Tepper School of Business. That will be doubly so considering that the timing of the first cut coincides with the home stretch of a presidential race, when investors tend to overreact to political plot twists. “These periods where the direction of rates is changing tend to be periods of uncertainty,” says Spatt. Driving that uncertain
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News
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- Cramped Airports Fuel Muni Borrowing Boom as Travel Surges [Yahoo! Finance Canada]Yahoo! Finance Canada
- Rand Gains With SARB Poised For First Rate Cut in Four Years [BNN Bloomberg (Canada)]BNN Bloomberg
- Wells Fargo Bank Decreases Prime Rate to 8.00 PercentBusiness Wire
WFC
Earnings
- 7/12/24 - Beat
WFC
Sec Filings
- 9/20/24 - Form 424B2
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- WFC's page on the SEC website