To prepare for market volatility with more interest rate cuts, investors can take the following steps.

• According to HSBC's forecast, the Federal Reserve may reduce interest rates by 50 basis points before the year ends.
• Meanwhile, the coming November election may usher in more market volatility.
• Experts suggest that investors who take proactive measures to safeguard their funds will likely perform better in the long run.

The U.S. economy may undergo significant transformations before the year concludes.

Experts advise investors to take proactive measures in order to stay ahead of impending changes.

Racquel Oden, the U.S. head of wealth and personal banking at HSBC, stated during CNBC's Women & Wealth event that the Federal Reserve's decision to slash interest rates by 50 basis points last week is expected to lead to more cuts.

""The next rate cut debate is whether it will be 50 or 25 basis points," Oden stated."

It is predicted that HSBC will make two 25-basis point rate cuts in November and December, resulting in a total reduction of 100 basis points by the end of the year.

Lower interest rates will reduce borrowing costs on various loans, including mortgages, credit cards, and auto loans, for consumers. However, it will also result in lower returns on cash savings.

While inflation has slowed down, consumer confidence and spending remain robust, Oden observed.

Expect market volatility ahead

The upcoming November election brings another uncertainty for the U.S., as market volatility is expected to increase in October, predicts Oden.

Oden stated that there will be some volatility both before and after the election.

Investors who withstand the markets ups and downs may be rewarded.

Elections and the fourth quarter earnings season are traditionally followed by market rallies, according to Oden.

Oden stated that he believes there will be a robust rally in the fourth quarter.

Having confidence can be especially beneficial for women investors, who may be more prone to self-doubt, during uncertain market conditions.

""We experience decision paralysis because we fear failure, but we need to shift our focus from failure to the opportunity for success," Oden stated."

Defer to your personal investment policy

A sound investment strategy involves devising a plan and adhering to it, according to Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Fla.

Regardless of any changes in interest rates or market fluctuations, it is crucial to adhere to your investment policy and use it as your guide, advised McClanahan, a member of the CNBC FA Council.

If you're young and can afford to take risks, you may have more of your portfolio in stocks and less in bonds, McClanahan said. On the other hand, older investors who are closer to retirement and therefore more risk averse may want to have a more even stock-bond split.

It would be prudent for investors to secure today's higher interest rates on cash as interest rates are expected to decrease, advised McClanahan.

She advised buying long-term certificates of deposit as the easiest way to invest.

McClanahan stated that although they do not offer the same pay as one-year CDs, the locked rate is guaranteed for five years.

"If interest rates decrease next year, you'll receive the higher interest rate for at least five years," she stated.