For instance, the CME FedWatch index shows an 87% chance that the U.S. Federal Reserve will deliver an interest rate cut next week, delivering a new round of cheaper money. Further cuts are expected in 2026.
Furthermore, Wall Street largely expects President Trump to announce that Kevin Hassett will replace Fed chairman Jerome Powell in May—and Hassett is widely regarded as a dove who will lean in favor of further rate cuts.
With all that fresh money on the horizon, it’s clear why markets have shrugged off their worries about AI and Bitcoin. The only shock will be if the S&P fails to hit a new all-time high by the end of the year.
Here’s a snapshot of the markets ahead of the opening bell in New York this morning:
