Stocks across the board took a hit after the Fed's decision to keep interest rates steady, with the potential for future rate hikes down the line. Data from Bank of America shows investors had their largest exit from equities since last December. Yahoo Finance Senior Reporter Josh Schafer joins the Live show to break down the comments made by Fundstrat's head of research Tom Lee and why the economy may actually flourish. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The Federal Reserve's Beige Book notes that economic growth was 'modest' during July and August. U.S. Bank Asset Management Group CIO Eric Freedman joins Yahoo Finance Live to discuss the state of the economy, the possibility of additional Fed rate hikes, and the state of the consumer. Freedman does not think that the next Fed rate hike will happen in September, but he does foresee a hike by the end of the year. Freedman said, "We think what's priced in is likely one more hike a bit later this year."
Wall Street is in the middle of a balancing act between remaining hopeful for the September trading month and reducing its recession outlook. Commonwealth Financial Network Chief Investment Officer Brad McMillan joins Yahoo Finance Live to discuss the U.S. recession and growth outlooks amid the Fed's interest rate cycle. "The only thing that worries me right now is the consumer confidence data, that's starting to fall back," McMillan says on recent economic data prints. "Certainly, when you look at the job growth, we will have a recession. But right now, I don't think it's until next year, and probably not until the middle of next year." McMillan also comments on how markets are managing under revised recession forecasts and the impacts stemming from China's economic slowdown.