The Federal Reserve may fall behind on the path to interest rate cuts, and Bank of America is optimistic about the rise of global stock markets
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Bank of America strategist Michael Hartnett stated that the pace of interest rate cuts by global central banks is faster than that of the Federal Reserve, which may drive a broader rise in the stock market. Although the U.S. stock market has performed strongly over the past two years, European stock markets are currently leading. Hartnett believes that if gold prices break through $2,800 and the New York Stock Exchange Composite Index surpasses 20,500 points, it will serve as a catalyst for further risk-taking. U.S. stock funds saw inflows of $7 billion, while European and emerging market funds experienced outflows
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