Fed Chair Jerome Powell also noted that a strong labor market wouldn't deter the central bank from cutting rates.
Fundstrat's Tom Lee told CNBC he expects the Russell 2000 to rally 50% .
"I think the Russell 2000 represents sort of the best of things to happen when the Fed starts cutting."
The small-cap Russell 2000 rose 1.6% this week.
The iShares Russell 2000 ETF tracks that index.
Persons:
Jerome Powell, Blair Boyer, Boyer, Goldman Sachs, Tom Lee, Russell, —, Lee
Organizations:
Dow Jones, Nasdaq, Federal Reserve, Dow, CNBC, Nvidia, Microsoft, Devices, Visa, Blackwell, JPMorgan, NVIDIA, Fed, GE Vernova, New York Stock Exchange, GE
Locations:
Jennison