In a recent interview with CNBC, renowned investor Steve Eisman expressed his confidence in the stability of the U.S. economy, dismissing fears of an impending recession. Known for predicting the 2008 housing crash, Eisman attributed the resilience of the U.S. economy to strong market performance driven by investments in artificial intelligence and infrastructure.
Eisman highlighted Wall Street’s enthusiasm for AI and investments in America’s infrastructure boom as key drivers of the market’s recent trends. Companies like NVIDIA Corp and Apple Inc have recently achieved record highs, along with infrastructure stocks like the iShares U.S. Infrastructure ETF. Eisman believes that the U.S. economy is more dynamic than ever before, powering through challenges despite concerns raised by some economists.
However, other financial experts have differing opinions on the state of the market. In May, Eisman identified Nvidia and Advanced Micro Devices as AI investment opportunities, while calling Apple a “hidden” AI play. However, in April, he warned of a potential stock market bubble if the Federal Reserve cuts rates in 2024, suggesting caution in the current economic climate.
On the other hand, economist Peter Schiff has warned that U
