“When you’re stuck in one of these moments of stasis, you know you’re going to break out somehow on one side or the other,” Bernstein said while speaking at The Common Good Forum in Midtown Manhattan on Friday.
The U.S. economy began to reaccelerate last summer, and financial markets are already reflecting anticipated good news to come. The S&P 500 has climbed about 15% over the past year, and earnings are expected to grow 10% this year and next.
“If current expectations hold true, what’s really going on is that the market today is basically pricing in what it believes will happen over the next two years,” Bernstein said
- The Street reporter Emily Stewart, READ MORE