The basic conclusion is that 1999-2000 will bring further gains in corporate profits, mild-mannered inflation and a generally favorable outcome for equity prices. Increasing confidence that the economic expansion will continue through our newly-extended forecast horizon encourages a modest upward revision in stock price targets.

Abby Joseph Cohen

Investment Inflation Will

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Such a 'flu shot' is now widely expected and would be unlikely to unsettle investors beyond a transitory period.

— Abby Joseph Cohen

Models work when they are appropriate for the particular circumstance, but some of the best investment judgments over time have come when people recognized that models derived in other periods were broken or not directly relevant.

— Abby Joseph Cohen

Investors are recognizing the fundamentals are still terrific, ... Profits are sound, the economy is growing. Inflation is not yet rearing its ugly head.

— Joseph Cohen

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This is the start of a hiking cycle. A series of small hikes will follow until inflation falls below 3%.

We have committed to the endowments, which is saving, we've committed to capital, which is investment, we've committed to inflation-proofing the Heritage Fund . . . and there is the very real possibility that we could add more dollars in that area, ... So we're talking about a small amount of this surplus, really.

— Shirley McClellan

InflationInvestment