Economic Recovery Hazy

" Our next guest says economic growth is under way due to low interest rates in the stimulus package joining me now is -- air. Keep your macro strategist at Wells Fargo advisors. Good morning Gary good to see you good morning good seeing you. So a two year anniversary of closing high all time closing high. How long did it take to get back there and do we have a sign that perhaps we could re grow again."

" Well we are begin receding economy grow and I think their earnings numbers are going to be getting better so. We do expect the rally in the stock market that we -- start march. Continue over time we. We may be -- for -- that we think that over the next couple years we will see the market move back towards its -- eyes. What biggest challenges. Ahead. Well obviously you know we've been to in major decline here we. Use medical terms this was a severe illness not just minor setback so it's going to take time for the economy to feel. We think that some of the problems we're going to have to deal -- Will be real evidence like -- high unemployment rate the mortgage foreclosure issue. -- still tight credit these -- all things that we think -- going to probably keep the economy growing on a sub par basis."

" How does a weak dollar any Federal Reserve Bank that has some dissension among its members about when and if the Fed should it raise interest rates impact not only the F flea markets but the bond markets as well."

" Well you know I think equity markets have actually been doing out rather well with the dollar going down matter fact. I think what it shows is that the as investors are willing to take a little more risky move into overseas markets. That's -- that's actually been good for both global equities in US equities so I don't think that the weak dollar is actually hurting. The equity markets and -- I think that for the economy itself. We don't want to see the dollar collapsed. But it seems to be going down at a rate that would be consistent with. -- giving us a little bit of a competitive advantage so it's not all bad."

" But there isn't disconnect -- right now between what the bond market is telling us. And what the equity market is telling us about this recovery. Will we eat a lying at some point why the two big disconnect."

" Well you may remember that in the spring that the bond market was really worried about inflation. -- and I think what we've seen in the past couple of months is that. You know those fears of inflation were probably overblown. In part because -- a lot of investors were uncertain as to when the Fed was going to start with the withdraw the stimulus and and now we're seeing more comments from the Fed as you mentioned. About withdrawing that stimulus and I think that's dampening some of the inflationary fears and it's actually help both bonds and stocks so. I think the policy makers are keeping a close eye on on their policy and that that's been good for the financial markets."

" All right very -- senior market strategist for Wells Fargo advisers thanks so much Gary good -- up your good."