Fed Dovishness Will Power These Stocks

The Fed’s dovish signal to start rate cutting in 2024 is predicted to bring bullish momentum to a number of rate-sensitive sectors.

Tim Redaksi

18 Des 2023 - 17.52
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Fed Dovishness Will Power These Stocks

Illustration - An employee saw the movement of the composite stock price index (IHSG) recently./Bisnis-Eusebio Chrysnamurti.

Bisnis, JAKARTA — Various sectors in the capital market have the potential to benefit from the US Federal Reserve’s dovish stance, or the Fed, which signaled its intention to begin cutting its interest rate in 2024.

The Fed once again maintained its rate at 5.25—5.5 percent in the latest meeting in December 2023. On Wednesday (12/13/2023) local time, the Fed indicated its hawkish cycle is coming to an end. This marks the third time the Fed has decided to maintain the interest rate. Moreover, this time, the US monetary authority hinted that a reduction in interest rates would occur in 2024.

The Fed stated that recent indicators show slowing economic growth, moderate but still robust job increases, and a low unemployment rate. Additionally, the US banking system is healthy and resilient. The Fed has seen 11 rate hikes in the last two years, representing the fastest rate tightening since the early 1980s.

Meanwhile, the Fed has signaled three rate cuts for the coming year, more than the expectations of most investors and causing a degree of reaction in the market. For Indonesia, this policy has the potential to benefit several listed stocks.

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Editor: Yusuf Waluyo Jati
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Fed Dovishness Will Power These Stocks

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