ICON's Paul: Anyone expecting rate cuts this year is kidding themself

Jerry Paul, senior vice president of fixed income at ICON Advisers, says that inflation is going to remain stubbornly high, which leads him to expect two more rate hikes and to doubt anyone expecting the Federal Reserve to start reducing interest rates. He believes it will be 2024 before rate cuts become a remote possibility. Meanwhile, Paul says there are plenty of fixed-income opportunities, though they aren't nearly so attractive in traditional areas like junk-bonds as they are in areas like banking paper or closed-end bond funds. Also on the show, University of Connecticut professor Richard Langlois discusses his recent book, 'The Corporation and the Twentieth Century,' and how 'managerialism' has changed not just the working world but maybe how investors decide which stocks are worth buying. Plus, in the Market Call, Jeff Auxier of the Auxier Focus Fund talks stocks for the long run.