Summary

Dr. Ed Yardeni, President of Yardeni Research, explored his updated “Roaring 20s” scenario and the outlook for global markets. Yardeni argued that the US economy remains structurally stronger than its global peers, supported by resilient consumers, strong balance sheets and sustained capital investment. He highlighted productivity growth—driven by digitalisation and artificial intelligence—as a key force underpinning earnings, wage growth and economic expansion. Yardeni maintained a bullish outlook for US equities, forecasting continued earnings growth and higher equity indices, while viewing market corrections as buying opportunities. The discussion also covered risks from tariffs, geopolitics and public debt, which Yardeni currently assigns a lower probability. Overall, the call reinforced the view that technological innovation and productivity gains could define a prolonged period of economic and market strength.

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