Time to rethink love for cash with Fed most likely ‘Done’

Wall Street investors sitting on a pile of cash may begin to consider other options, with the Federal Reserve possibly heading for a pause in rate hikes, according to Tom Kennedy, investment strategist for global wealth management at JP Morgan.

“Cash very rarely outperforms and it takes a long time for rates to rise, but they can fall very quickly,” Kennedy said on What goes up Podcast. He also estimated that the company’s customers are the most overweight cash now than they have been in a decade.