Kenny Polcari, NYSE veteran and Chief Market Strategist, says rate cuts are imminent as softening labor data and cooler inflation set the stage for a controlled easing cycle, with a 25 bp cut most likely to avoid signaling panic. He dismisses the Lisa Cook controversy as political noise that won’t affect the Fed’s decision.
Kenny warns that a healthy 4–6% market pullback is coming, urging investors not to chase rallies; those already invested are fine, and cash on the sidelines can still earn over 4% in Treasuries.
He expects gold could reach $4,000—but in 2025, not this year.
On tariffs, he notes that a Supreme Court ruling against Trump could force Treasury to issue more bonds, pushing yields toward 5.5–6% and pressuring equities.
Tech and AI remain long-term leaders, though stretched in the short term after moves like Oracle’s surge.
He views Bitcoin as a legitimate asset class and suggests allocations scaled to age and risk, holding about 2.5% himself—enough to benefit without taking excessive risk.
