1 Artificial Intelligence (AI) Stock That Could Skyrocket in 2024 if the Fed Cuts Rates
The Federal Reserve influences more areas of your life than you think. It's not only the body that determines the prime rate that can skew what mortgage or auto loan rates you get, but it also affects investors' risk appetites for stocks versus guaranteed income assets, like bonds.
However, one stock is at the crossroads of both trends, as Upstart (NASDAQ: UPST) is an aggressive investment pick and a company operating within the lending industry. The past year has been bumpy for Upstart, but it could skyrocket if the Fed cuts rates in 2024.
Upstart's program, powered by artificial intelligence (AI), helps lenders assess creditworthiness using alternative methods like work experience, education history, and other items not typically accounted for by the industry-standard FICO score.
Source Fool.com
