I doubt that Goldman Sachs economist Abby Joseph Cohen understands Austrian school business cycle theory, but it sure looks like she is aware of the current state of the Fed manipulated economy.
On CNBC's "Fast Money" this morning, Cohen said the U.S. economy will continue to rise in 2016.
"Investors are recognizing that the economic data for the United States is actually reasonably good," said Cohen, who joined Goldman in 1990, was named partner in 1998 and is now president of its Global Markets Institute.
Cohen justified her firm's S&P price target of 2,100 by noting that strong jobs data, as well as promising durable goods orders, will continue to drive the economy. In February, the U.S. added 242,000 jobs while order for long-lasting products rebounded from a drop in January. For this reason, Cohen remains focused on exposure to economic growth through investing in equities, particularly in the energy sector.
"Energy stocks have been very hard hit and, with our expectation that crude prices will be moving higher during the course of 2016, that might be another place to be looking," said Cohen, who added that Goldman's commodities team has a six- to 12-month price target for Brent within the $40-$50 range.
-RW
(via CNBC)
Sounds like she is speaking about some Frankenstein-like monster. "...the U.S. economy will continue to rise..." I can even hear the good Dr. F's assistant mumbling "the data ... is reasonably good." How one can discern from this nonsense that she is aware of anything is beyond reason. Her comments are simply to assure the idiots in the government so they continue to allow the free money to flow. Let the plunder continue...
ReplyDeleteTo be contextually fair, Abby would be considered a perma bull who touts stocks for a living.
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