Fidelity's Timmer: 'It looks like the Fed will stick the soft landing'

Jurrien Timmer, director of global macro at Fidelity Investments, says that at surface levels it looks "like the Fed will stick the soft landing," but he notes that the markets "are primed and priced for that," and if the central bank falls short on its goals and inflation is more persistent than expected, that could be where trouble shows up for the stock market. Timmer says that part of his outlook on the Federal Reserve is that many of the conditions that lead to recession have played out, but have happened in fits and starts, allowing the economy to get through trouble without, on the whole, falling into a full recession. He expects that to continue -- at least delaying any recession if not postponing it indefinitely -- as the economy works through its remaining trouble spots. Also on the show, Toni Turner, president of TrendStar Group, says she expects the market to challenge new highs during a Santa Claus rally, though she does expect the market "to pull into a rest stop soon." Plus, David Snowball, founder of MutualFundObserver.com, talks mutual funds and ETFs in the Market Call.