Posted 1/18/2024, 6:40:00 PM
Fundstrat's Lee Predicts 7% Market Drop, But Overall Bullish on 2023 Despite Recession and Fed Uncertainty
- Fundstrat's Tom Lee predicts a 7% stock market drop after this month due to uncertainty over potential recession and Fed rate cuts
- Lee remains broadly bullish on stocks over the course of 2023
- Stock volatility recently due to mixed signals from Fed officials on interest rate cuts
- Inflation and retail sales data showing economy may need more cooling before Fed dialing back
- Uncertainty over pace and timing of Fed rate cuts to persist for months, likely causing market nervousness