Chief Market Strategist Ron Temple on CNBC Money Movers

January 26, 2024


Lazard Chief Market Strategist Ron Temple appeared on CNBC’s “Money Movers” on January 26, to discuss what to expect from the next Federal Reserve meeting, expectations around inflation, and what the Fed’s path looks like going forward:

“I think the trough of this easing cycle is around 3-3.5%. But I do think inflation will be a little bit higher over the next 5-10 years, because some of those structural dynamics that held inflation down during the pandemic are basically going to be shifting more towards the dynamics of energy transition and the cost of the energy transition. Also, changes in global supply chains will nudge up inflationary pressure, so I think the Fed will keep rates up a little bit higher than the markets might anticipate.” 

Ron also shared his expectations for the markets in 2024:

“We’ve had a huge run I the magnificent seven, but the only way that momentum can be sustained is if other companies in the market who are buying the products from these seven companies, find that they increase productivity and increase profitability. We also have a good economic backdrop. So, the seven companies in tech aren’t the only companies growing earnings this year. I think that’s the bigger story of 2024, is macro being deemphasized and micro, company specific, increasing in importance.”

Click here to watch the full segment.