US Will Dodge Recession and Markets Will Rally, Ariel’s Rogers Says
- Tells Chicago business leaders ‘Fed is doing the right things’
- Last year, he correctly foresaw high inflation, Bitcoin plunge
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The US will avoid a recession this year as the Federal Reserve controls inflation, giving the stock market a boost, according to John Rogers, chairman and co-chief executive officer of Ariel Investments.
The Dow Jones Industrial Average will likely rally 10% or more in 2023 and the S&P 500 Index more than that, Rogers told business leaders at the Executives’ Club of Chicago’s annual outlook event. Last year he correctly forecast a sharp increase in inflation and that Bitcoin was a bubble that would burst.