CNBC's "Fast Money" Fed Chair Powell Interest Rate Update… And Hims & Hers Thinning Out 11/14/24
Nov 14, 2024
Dr. Kavita Patel, a former policy director in the Obama administration, shares her insights on the intersection of healthcare and market dynamics. Steve Leisman covers Fed Chair Jerome Powell's latest interest rate update, emphasizing a cautious economic outlook. The discussion also highlights Amazon's surprising move into telehealth, which is impacting Hims & Hers significantly. Both guests delve into the implications of political shifts on public health and how market reactions are shaped by monetary policy uncertainties.
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Investment Advice in Light of Potential HHS Secretary
- If Robert F. Kennedy Jr. becomes HHS Secretary, vaccine and food companies may face challenges.
- Consider alternative health care stocks like Amazon Pharmacy or Hims & Hers.
Health Care Sector Under Pressure
- The health care sector (XLV) is under pressure due to uncertainty surrounding the new administration's policies.
- Investors should re-evaluate their thesis on XLV, considering potential changes.
Fed Chair's Impact on Markets
- Stocks fell after Jerome Powell stated the Fed will not rush to cut rates if economic growth stays strong.
- The 10-year yield hit a four-month high after his comments.