Bob Doll's 10 Predictions for 2023

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The new year brings ongoing economic uncertainty after near-record market volatility and a hostile environment for investors in 2022, Bob Doll, Crossmark Global Investments chief investment officer, noted recently.

“The key economic question for 2023 is whether central banks will be able to bring down inflation to acceptable levels without a recession,” Doll wrote in his outlook for the year. Among other views, Dolls expects a relatively weak U.S. economy.

“Beyond the inflation dynamic, we remain concerned about potential political and economic shocks that could impact the U.S. and global economy via higher uncertainty and/or tighter financial conditions.”

As central banks raised interest rates to wrangle soaring inflation, 2022 was the first year in nearly 50 that stocks and bonds both had negative returns for the first three quarters, he noted.

“At the beginning of the year, we expected a down year, but not a 25% bear market,” Doll said.

Taking the unknowns into account, the Crossmark CIO issued his prognostications for this year.

Check the slides for Doll’s 10 predictions for 2023. His theme: The Fed calls the shots.

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