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Economy's Woes Temporary; S&P Set to Hit 1450: Cohen
Published: Wednesday, 22 Jun 2011 | 11:24 AM ET Text Size By: Jeff Cox
CNBC.com Staff Writer


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The recent economic troubles that caused Goldman Sachs to slash its growth outlook are only temporary and unlikely to stand in the way of stock market rally, the firm's senior investment strategist said.


CNBC
Abby Joseph Cohen
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In keeping with a long history of bullish forecasts, Abby Joseph Cohen told CNBC that even though her firm cut its quarterly gross domestic forecast last week from 3 percent to 2 percent, that doesn't reflect broader pessimism about where the economy and markets are heading.

"We believe that 2 percent GDP number for the quarter is something that represents special factors in the quarter and we do think economic growth will be reaccelerating toward the end of the year," Cohen said in a live interview.

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I do see a point in her following arguments about regional banks, we are currently building a huge cash bubble, that will burst evetually like any other bubble.

One reason for her optimism, she said, is that regional banks are starting to lend again.