UBS on the Federal Open Market Committee (FOMC) rate cut and outlook for US equities.In summary:With signs that inflation is being brought under control, the Federal Reserve can now shift its focus to fostering job growth and economic expansion while managing the risk of a recession. UBS continue to expect 100 basis points of rate cuts in 2024. UBS add that the recent dot plot aligns with their forecast for the pace of monetary easing through the end of 2025. On stocks, UBS analysts say that historically stock markets have performed well when the Fed reduced interest rates without the economy being in a recession, and they anticipate the same outcome this time. Their outlook remains that the
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