Jeffrey Small on Fed's Balancing Act & Mag 7's CapEx Potential

Jeffrey Small explains that a resilient labor market and strong GDP forecasts are challenging the case for near-term rate cuts. While high valuations sparked recent volatility in stocks like Microsoft (MSFT) and Nvidia (NVDA), Small views the massive Mag 7 AI CapEx as a long-term investment cycle similar to Amazon’s (AMZN) early days. 

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11 Feb 2026

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