What would be the impact of Fed rate cuts on consumer earnings: Wells Fargo weighs in
As the Federal Reserve appears poised to start cutting interest rates later this year, Wells Fargo analysts examined the potential effects on consumer earnings in a note Wednesday.
They note that market expectations indicate that while the Federal Reserve may hold rates steady at its July 31st meeting, a series of cuts could begin in September. Several consumer sectors are expected to benefit from the anticipated rate cuts. Wells Fargo highlights the following: BJ's Wholesale Club (NYSE:For the Beverages, Food, and HPC sector, the impact is expected to be minimal, although about two-thirds of the names might see modest headwinds due to the loss of interest income.
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