Investment strategist bullish on US economy visits Eugene
EUGENE, Ore. - Jeff Saut is bullish on America's financial future.
The chief investment strategist for Raymond James and frequent contributor on CNBC expects 2 more months of market ups and downs before a long-term period of growth.
Saut spoked at Shadow Hills Country Club near Junction City on Wednesday at an event hosted by Carter and Carter in Eugene.
In the near-term, he expects the stock market to fluctuate for a few months after the Federal Reserve's announced plans to scale back economic stimulus efforts.
After that settles down, he predicts another long-term "bull" market. Bull describes a market where values rise; bear describes a market where values retreat.
At the least, Saut said he doesn't see a way the economy will slip back into a recession barring another catastrophic event like the terroirst attacks of September 11, 2001.
Among his other predictions: the United States could achieve energy independence by 2018 or 2020 at the latest, a move he said would help wipe out the budget deficit and fuel job growth.
Saut told KVAL News, "That's a huge factor because not only does it mean the current account deficit goes away, huge tax revenues for the states and federal coffers. Plus lots of new jobs."
He also sees a shift in Congress, with more business-minded members helping shape future policies.