Dion Rabouin
speaker
287 appearances
5 recordings
1 series
first heard Sep 2022
last heard Dec 2023
Dion Rabouin’s voice in public audio — every appearance, attributed to the second.
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Appearances
The U.S.
economy is actually expected to grow about six times as fast as the Fed predicted at the beginning of the year.
So soft landing really was what we saw.
And that's been great for the stock market because it's shown that the Fed is able to get inflation back down without causing damage to the rest of the economy.
Everybody was surprised by what happened in the stock market in 2023.
I did a story at the end of 2022 about how just about every major investment bank on Wall Street was predicting that we'd had a recession this year.
Some asset managers thought that the stock market would rally anyway, that the Federal Reserve would start cutting rates and that would lead to
Some decent returns for the market, but I don't think anyone saw the blowout returns we saw this year.
The NASDAQ rising around 40% this year, really recouping all of its 2022 losses.
The S&P 500 really outperforming, rising more than 20%.
And the rise of the Magnificent Seven, right?
These seven big name tech stocks that really drove things, delivering huge returns for companies like Meta and NVIDIA,
over 200% returns this year.
So a lot of folks could have been bullish coming into the year thinking, okay, this will be a decent year for stocks.
Maybe it'll be an average year for stocks, but I don't think anyone saw the blowout year that we had this year coming.
A soft landing means that the Federal Reserve can get inflation down to around its target without causing too much damage to the labor market or the overall economy.
Inflation reached a high of over 9% in summer of 2022, and the Fed really sprung into action trying to get inflation down.
back towards its 2% target.
And that's what 2023 has really been all about.
So the idea of a soft landing is inflation is the plane that's way up in the air, and you want to get it back down to its 2% target without the damage of a hard landing, which would be damage to the labor market, damage to the economy, growth slows, hiring slows, and maybe even turns negative and you have a recession.
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