Despite mounting pressure and calls for lower interest rates, the Federal Reserve held rates steady at 4.25%-4.5% on Wednesday. This analyst anticipates that the Fed would be among the last central banks to cut interest rates, while still expecting four cuts this year.
What Happened: The Chairman and Founder of Navellier & Associates, Louis Navellier, said that “Other central banks like the Bank of England and the European Central Bank are going to continue to cut rates, so we are still in the midst of a global interest rate collapse.”
This comes as the Bank of England cut its interest rates to 4.25% as widely expected by the market, on Thursday.
According to him, with other central banks cutting their interest rates, “money will slosh back to America because our rates will be higher than everybody else’s.”
“Our Fed will be the last to cut, but I’m still in the camp that they should cut four times this year,” he said.
Navellier also highlighted a positive development in the ongoing U.S.-China trade tensions. He pointed …