Jimmy Lee, CEO of Wealth Consulting Group, says if the Fed doesn’t fix rates soon, it will be “too fast” going forward.
Wealth Consulting Group CEO Jimmy Lee thinks it’s a good idea that the US Federal Reserve signaled from FOX Business “Mornings with Maria” on Friday that it could cut back this year. Lee argued that if the Fed “waits too long” to set interest rates, it poses real risk to the markets.
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JIMMY LEE: I think it’s actually a good idea for the Fed to announce the cut now and prepare investors for it so that the market isn’t shocked as much as it gets. In fact, I think the real risk, Maria, is that the Fed will wait too long and fall behind on rates here and later have to raise rates too quickly.
That would really have the biggest impact on the stock market in my opinion. And that’s really the biggest risk I see. Well, I think the Fed, which is now announcing, is good.
And I think investors shouldn’t worry too much about this because it has to be soon and we expect it to be.
THE SIGNALS FROM THE FED MIGHT COME TAPERING THIS YEAR
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Jimmy Lee, CEO of Wealth Consulting Group, tells investors to “expect” the Fed to set interest rates.