Piper Sandler’s top strategist breaks down why he thinks the Fed will cut rates in July instead of September — and shares his highest-conviction trade in the market right now

• Michael Kantrowitz predicts the Federal Reserve will first cut rates at its July meeting.
• This view contrasts with market consensus, which is that the first cut will come in September.
• Still, Kantrowitz suggests investing in quality stocks over highly cyclical stocks.

Piper Sandler’s Chief Investment Strategist Michael Kantrowitz believes the Federal Reserve is set to cut interest rates at its July meeting. This move is intended to stave off a recession as economic data continues to soften.