The risks of higher-for-longer rates: Lenders, weakened economy

The Federal Reserve decided to keep interest rates steady after its two-day meeting, with Chair Jerome Powell citing a lack of progress on inflation. Morgan Stanley Investment Management Managing Director and Senior Portfolio Manager Andrew Slimmon joins Wealth! to give insight into the Fed's decision and how investors should monitor the markets as policy remains unchanged.

Holding rates too long, Slimmon explains, could weaken the economy, but a tell-tale sign of weakening hasn't yet been triggered:"The risk is that the Fed hangs in there too long, and then the economy weakens, and one of the ways, I think, a little trick or a way to watch that is really the two-year yield.

TFSA investors could capitalize on these top Canadian stocks to generate tax-free capital gains and dividend income. The post TFSA: 3 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.The Canadian dollar strengthened against its U.S. counterpart on Wednesday, clawing back some of the previous day's sharp decline, as the Federal Reserve's signaling about prospects for interest rate cuts was not as hawkish as some investors had feared.

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