Economic pain worldwide will trigger capital flight to U.S. Treasurys, driving down those yields, investment manager Louis Navellier says. The Fed will follow.

In remarks at a postmeeting press conference on Wednesday, Fed Chair Jerome Powell said that policymakers are now equally attuned to risks from both sides of the mandate, and would proceed cautiously with future rate cuts to avoid reigniting rapid inflation.

The Fed trimmed a key interest rate by a quarter percentage point, its third straight rate cut. But it forecast fewer 2025 cuts amid inflation uptick.