Buy 5 High ROE Stocks as Fed Holds Rates, Promises 3 Cuts
Iron Mountain(IRM) Zacks Investment Research·2024-03-21 20:56
The leading benchmark indices notched all-time closing highs yesterday as the Federal Reserve held interest rates steady, in line with widespread expectations. Despite the federal funds rate level (in the range between 5.25% and 5.50%) being the highest in more than 23 years, the Fed kept the rates unchanged and pledged to cut the same thrice in 2024. This propelled the stock markets to record highs on optimism that the rate cuts will buoy the economic growth, which is projected to grow at a 2.1% annualized ...