Closing Bell Overtime: “The time has come for policy to adjust”; Dovish Powell Sends Stocks Higher 8/23/24

Fed Chair Jay Powell signaled rate cuts are near after saying, “The time has come for policy to adjust.” Investors cheered the news, sending stocks broadly higher. Innovator Capital Management’s Tim Urbanowicz and Paulsen Perspectives’ Jim Paulsen break down how to position while 3Fourteen’s Warren Pies discusses the impact on housing. Plus, BofA Head of North American Banks Research talks what the cuts will mean for banking stocks and Mercer US CIO Olaolu Aganga gives top ideas and the opportunities in alternative investments.