The Federal Reserve (the Fed) has cut interest rates again, making it the third consecutive cut for the past three meetings this year. There are now a lot of implications that will stem from this latest pivot when they make their way through the economy. One thing is certain: stocks that facilitate this transition are likely to see their prices rise.
This is where the business services sector comes into play, as currency swings and interest rates will inevitably affect the buying power of domestic businesses and consumers, as well as those who operate in overseas markets. While online platforms like Shopify Inc. (NYSE: SHOP) might be at the top of investors' minds in this theme, vertical plays like payment processors are still not popular enough.
