Crossmark's Doll says '23 could leave both bulls and bears frustrated

Veteran money manager Bob Doll, chief investment officer at Crossmark Global Investments has been making 10 forecasts for every new year since the 1990s and he unveiled his 10 predictions for 2023 today, calling for a shallow recession that is followed by an equally shallow recovery before year's end. Doll says inflation will fall by a good amount but not get near the Federal Reserve's target rate of 2 percent, which leaves the market caught in the middle hoping that the central bank will change its policies to appease the market. He doesn't think the Fed will back off, especially when it comes to moving interest rates up to 5.5 percent, where he thinks they will remain into 2024. Also on the show, Ed Carson, news editor at Investor's Business Daily, discusses the mixed bag of results from the latest IBD/TIPP Economic Optimism Index, and Tom McIntyre of McIntyre, Freedman and Flynn talks about investing in stocks while reacting to the news in the Money Life Market Call.