The economy has recovered, and now is in an 'expansion phase'

Jeanette Garretty, chief economist at Robertson Stephens Wealth Management, says that the economy has entered an economic expansion phase, and notes that these growth phases tend to last a while. She expects this expansion to run for years, driven by fiscal policy and helped along by changes in the workplace, productivity and inventories that have eliminated some of the classic economic impediments to protracted growth runs. Also on the show, Daniel Wildermuth of the Wildermuth Endowment Fund discusses how private equity investments have weathered the pandemic -- and outperformed the broad stock market over the longer term -- Jake Wujastyk of TrendSpider.com says that the technical indicators show that the market has room to run higher right now, and Julie Kutasov of Kayne Anderson Rudnick covers 'quality' small- and mid-cap investing in the Market Call.