On Friday, in his speech at the Fed's Jackson Hole Economic Policy Symposium, Chairman Jerome Powell signaled the first reduction in the benchmark interest rate since March 2020. The Fed fund rate is currently in the range of 5.25-5.5%, its highest level in 23 years. Although Powell refrained from announcing the time and the extent of the rate cut, Wall Street expects the first cut in the September FOMC meeting. A rate cut is likely to benefit small-cap stocks the most, aside from largecaps. At this stage, ...