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Jerome Powell’s speech at Jackson Hole signaled a reset of the bull market clock, says Wall Street vet Jim Paulsen.
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The Fed’s intent to cut interest rates offers new support for stocks, Paulsen said.
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“I think it’s hard for a recession to find something to bite on, a vulnerability to bring us down,” Paulsen said.
Jerome Powell’s dovish speech at Jackson Hole on Friday reset the clock for the stock market’s bull rally and opened the door for more gains.
Wall Street veteran Jim Paulse said in a CNBC interview on Friday that “a brand new bull market” in stocks is apparent after the Federal Reserve confirmed its intent to cut interest rates.
“They opened up a lot more positive forces for the stock market that just haven’t been there,” Paulsen, who writes the Paulsen Perspectives newsletter after retiring from a 40-year career on Wall Street in 2022, said.
He added:…
