Fund manager Ken Heebner says he thinks the U.S. economy will continue to recover, regardless of what happens with Europe’s debt woes.
“I think the American economy is not dependent on what happens in Europe,” Heebner tells CNBC. “The uptrend in the American economy, I think, is strong. I think the consumer has shifted decisively in March, and I think consumer spending is going to surprise on the upside meaningfully. … I think we’re going to see rising demand against the background of abnormally low inventories creating an accelerated rise in industrial production.”
Heebner thinks the situation in Europe could cause short-term issues for the markets, but thinks that in the long term, the Europe troubles are a positive for the U.S. The U.S. needs as much time as possible to sort through its own issues, and problems for Europe will help allow it that time.
Heebner also talks about why he’s high on Ford Motor Co., and Blackrock’s Bob Doll offers his take on the economy and markets in the interview.