2 Magnificent Stocks Down 29% and 92% to Buy Before 2024 Arrives
Rising interest rates have been a key economic theme over the last two years as the Federal Reserve continues to fight inflation, which hit a 40-year high in June 2022. It sent the stock market tumbling last year as investors reconsidered their growth expectations and found refuge in money market funds, which suddenly offered attractive returns with next to no risk.
But the Fed has been successful so far, with inflation falling substantially in 2023, and the pace of its interest rate increases has slowed as a result. The stock market has also bounced back, though many individual stocks remain well below their all-time highs.
Many economists and stock market experts believe the Fed might be finished raising interest rates now, and the central bank could even start cutting them in 2024. With the new year right around the corner, many beaten-down stocks could be set for substantial gains if those estimates prove correct.
Source Fool.com
