Zero Fed Rate Hikes Baked Into S&P Forecast, Says Wells Fargo's Cronk

Wells Fargo Wealth and Investment Management CIO Darrell Cronk says the Fed is expected to deliver zero rate hikes and that view supports a year-end S&P 500 target of 7,900. He frames the current move as a rotation within equities rather than a broad selloff. The takeaway is mildly constructive for risk assets, but the article is primarily commentary and not a policy announcement.

Analysis

Wells Fargo Wealth and Investment Management CIO Darrell Cronk says the Fed is expected to deliver zero rate hikes and that view supports a year-end S&P 500 target of 7,900. He frames the current move as a rotation within equities rather than a broad selloff. The takeaway is mildly constructive for risk assets, but the article is primarily commentary and not a policy announcement.