Given Jerome Powell's recent statements, where he emphasized that the Federal Reserve is not in any rush to cut interest rates, coupled with the latest US employment data, it seems likely that there might be no rate cuts in December. This is a crucial factor to consider because it suggests that the Fed may maintain its current stance of high interest rates for a longer period, especially if the labor market remains resilient and inflation is still a concern.

If there are no rate cuts in December, I wouldn't be surprised to see stocks experience some downward pressure. Higher interest rates can make stocks less attractive as an investment because they increase the cost of borrowing for businesses and reduce corporate profitability. Additionally, higher rates can dampen consumer spending and investment, which could negatively affect the broader economy and, in turn, stock prices.

However, I don't view this situation negatively for my personal investment strategy. High interest rates can actually benefit me in other ways. For example, I can take advantage of elevated interest rates on savings accounts and money market funds, which tend to offer better returns in such an environment. This means I can earn more from my cash holdings, providing a steady income stream. Moreover, with Treasury bond ETFs such as TLT and TLH offering attractive yields, I can also add them to my portfolio at relatively decent prices. The combination of higher rates on savings and more good prices for bond investments makes this a positive scenario for my financial strategy, even if it leads to short-term volatility in the stock market.

Ultimately, while stocks may face headwinds from a prolonged period of high interest rates, I am well-positioned to benefit from these conditions through safer, income-generating investments like money market funds.