By Lorie Konish, CNBC featuring Brian Spinelli, CFP®, AIF®, Co-Chief Investment Officer
- As the economic forecast has mostly shifted from a recession to a soft landing, experts at firms who landed on this year’s CNBC FA 100 list are still watching for a downturn.
- Despite those forecasts, here’s where they see opportunities for gains in stocks, bonds and cash.
Inflation has continued to take a bite out of Americans’ wallets in 2023. But onetime predictions that a recession is on the horizon are instead now turning into forecasts of a soft landing for the U.S. economy.
“This is the million-dollar question on where we’re going to end up,” said Brian Spinelli, co-chief investment officer at Halbert Hargrove Global Advisors in Long Beach, California, which is No. 8 on this year’s list.
Investors will typically go through many investment cycles and they’re not necessarily going to time themselves with stocks, bonds and other areas of a portfolio, he said.
“In the short run, you could have the stock market doing really well,” Spinelli said. “And you could also have the economy cooling.”
As inflation climbed to 40-year highs and the Federal Reserve has repeatedly raised interest rates to keep price growth down, other financial advisors are also on high alert for a downturn.