The Fed-fueled market downturn was a "tantrum": Strategist
Oppenheimer Asset Management has set a bullish S&P 500 (^GSPC) target of 7,100 for 2025. However, the Federal Reserve's forecast of only two rate cuts has triggered a widespread market sell-off. Oppenheimer's chief investment strategist, John Stoltzfus, joins Catalysts to discuss his market outlook. Stoltzfus sees markets in a transition period amid "a normalizing of interest rates." Following a period of high inflation that didn't produce a recession, he notes, "the other side of this is the market does not like that the Fed does not want to cut as many times as the market wants." He describes the current market downturn as "a tantrum," suggesting there is "good potential" for recovery as markets adjust to the Fed's decision and outlook. "The wonderful thing is that the fundamentals remain intact," Stoltzfus tells Yahoo Finance, adding, "Essentially, things are getting better. We've got an economy that continues to show resilience in business [and] the consumer. Jobs look decent ... I think that we're headed in the right direction." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith
