Steve Grzanich has the business news of the day with the Wintrust Business Minute.
One of the top executives at Chicago’s Ariel Investments says the U.S. will avoid a recession this year. Chairman and co-CEO John Rogers correctly forecast increasing inflation last year and also predicted Bitcoin was a bubble that would burst. According to Bloomberg, Rogers made the comments to business leaders at the Executives Club of Chicago annual outlook event. He says there’ll be no recession and the Dow will rally 10% this year. He says cyclical stocks will do well and he cautions against Chinese markets because of a real estate bubble there.
Also, Venture capital funding in Chicago decelerated in 2022 and the trend could continue into this year, according to a Pitchbook. Listen below for more: