The Federal Reserve recently announced that it will leave interest rates unchanged in July but Chair Jerome Powell said a cut could be on the table for September.

Wells Fargo Investment Institute global investment strategist Veronica Willis joins Wealth! to give insight into the current economic landscape and what investors need to know when updating their portfolios in this rate environment.

Willis outlines some sectors that may be favorable after the next rate cut: "Right now we've recently moved favorable on the financial sector. That's one sector that is really going to benefit once the Fed starts to cut rates. So getting in at this point now before the Fed starts to cut is a really good opportunity, a really good play. We think that, financials can do well over the next 6 to 12 months or so. We also really like, you know the energy materials industrials and healthcare sectors. We think during an economic slowdown those sectors are going to be positioned well."

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Nicholas Jacobino