Economists have ‘really had it wrong' about recession, market strategist says

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Economists have ‘really had it wrong' about recession, market strategist says
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Jefferies’ David Zervos and Barbara Doran, CEO of BD8 Capital Partners, weigh in on the likelihood of more Fed rate cuts to come at CNBC’s FA…

Jefferies' David Zervos and Barbara Doran, CEO of BD8 Capital Partners, weigh in on the likelihood of more rate cuts to come at CNBC's Financial Advisor Summit Tuesday.

If the first Trump administration is a guide, inflation is likely to be low."Take the tape, rewind it, put it back to 2019 and let's go from there," Zervos said."Two years ago … three out of four economists were saying we're going into a recession," David Zervos, chief market strategist for Jefferies LLC, said duringof inflation stood at 2.3% in October, or 2.8% when excluding food and energy prices, according to the latest reading.

"I think the market is spending way too much time focused on the inflationary consequences of either immigration or trade policies," Zervos said.By most indicators, 2025 is going to continue in a positive direction, said Barbara Doran, CEO of BD8 Capital Partners during the CNBC Financial Advisor Summit.On one hand,"we've got a lot of deregulation coming," Zervos said, which he called a"huge disinflationary tailwind.

"It's still a big wildcard that we have to see," Doran said."It would be inflationary ultimately, but it would hurt the lowest income consumer who is already hurting."

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