In a discussion on Yahoo Finance Live, Gradient Investments portfolio manager Keith Gangle shared his thoughts on the market implications of the Federal Reserve’s forecast of three interest rate cuts in 2024.

Gangle emphasized that the economy is doing well and that he does not see the need for a rate cut at this time. He believes that as long as the economy shows strength, there is no justification for lowering interest rates. Any decision to cut rates will depend on data-driven factors, he added.

In light of the uncertainty surrounding the rate cut, Gangle recommended that investors remain diversified in their portfolios. He acknowledged that while certain top stocks have led the market, there are still opportunities for value outside of these select stocks.

For more expert insights and the latest market updates, viewers can watch the full episode of Yahoo Finance Live.

By Samantha Johnson

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