The chart above is the Fed Funds target rate with the S&P 500 from 1980 to present. I marked the dates where the Fed made their "last cut" (after 3 or more successive cuts). Not all cases resulted in periods of terrific returns, however, '83-''84 seems to be the only period that put in an notably poor performance.If today ends up as a "last cut", odds are in favor of a bull market.
