Ed Yardeni takes an optimistic view on the global economy, says to 'look beyond' U.S.

Ed Yardeni is more bullish on the economy this year — telling investors and analysts to take a comprehensive look at the global economy.
"I think we have to look beyond the US, for starters, and see that there's more and more evidence that the global economy is better than people had feared last fall. Europe looks like it's not going to have a recession, and we see China coming out of its Covid funk," Yardeni said.
"Meanwhile, when we come back to the U.S., there's still a big debate about a soft versus hard landing."
Yardeni added that he anticipates a soft landing due to falling bond yields and the inverted yield curve.
The closely followed strategist also noted that while he believes the economy will grow at a slow pace this year, the worst has passed. According to Yardeni, the economy has already experienced a "rolling recession" in the past year, with different industries and sectors having experienced slumps during different times.
Taking into account that the economy will experience a soft landing, Yardeni said the Fed will not maintain interest rates at the high 5% range for a long time, downplaying fears of an economic downturn resulting from a high federal funds rate.
"I think inflation is turning out to be very transitory," he said. "I'm an optimist on inflation." $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$