As market indexes hit record highs, consumers shouldn’t get “ahead of their skis”, Providence Financial & Insurance Services President Anthony Saccaro tells Yahoo Finance Live.
Saccaro notes that while markets are already betting on the Federal Reserve to initiate interest cut rates soon, officials are still heavily considering the trajectory of inflation. Though other factors have maintained resiliency for equities, Saccaro worries some may think “the stock market is going to go up no matter what” or even view it as a “safe haven.” However, he stresses that’s a mistaken assumption.
While inflation has steadied, Saccaro says he would “love to see it come down” further, though the data doesn’t indicate significant declines just yet.
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Editor’s note: This article was written by Angel Smith
