“The Fed’s not going to move quickly.” Jeremiah Riethmiller doesn’t expect the Fed to up a potential rate cut to 50 basis point, anticipating cautious movement instead. He says to “be mindful” of high market valuations, but thinks that equities can stay at highs after the 2Q earnings season showed strength. “We like the mid cap space right now” with short term rates coming down, he adds, but there are risks and investors should stay nimble within the smaller cap space.