Fundrat's Tom Lee: Fed made proper pivot & the focus is rightly on addressing employment risks

Economic Outlook - The Federal Reserve's monetary policy remains crucial for equity markets, as a tight policy has kept the ISM index below 50 for 31 months, leading to cautious corporate behavior [3] - A potential easing by the Fed could signal increased corporate confidence and economic activity, which may rejuvenate the labor market that has been sluggish for over 12 months [4] Growth and Inflation - There is a possibility for growth to recover without accompanying inflationary pressures, challenging the common belief that growth automatically leads to inflation [5] - Factors such as AI driving productivity gains and initiatives on Wall Street to enhance productivity through blockchain could support stronger growth next year without inflation [6] Market Sentiment - Despite the potential for a market pullback, current sentiment remains negative, which historically does not indicate a market top [8][9] - The recent FOMC meeting did not lead to the anticipated market sell-off, as the consensus view was already priced in, leading to rallies in sectors like small caps, cryptocurrencies, and financials [10][11]