James Demare on fiscal policy
From There's revived enthusiasm from both investors and CEOs, says BofA's Jim DeMare · · CNBCTelevision
“There are some obviously material and serious topics that people have concerns about — whether it be tariffs, taxes, immigration all having large impacts on the economy — and I think that's where you have some extreme optimism and extreme pessimism.”
On , James Demare, Co-President at Bank of America, spoke about fiscal policy during There's revived enthusiasm from both investors and CEOs, says BofA's Jim DeMare on CNBCTelevision.
About James Demare
On December 17, 2024, Bank of America President of Global Markets Jim DeMare appeared on CNBC's "Squawk Box" to discuss market trends. DeMare stated that there is "revived enthusiasm" from both investors and CEOs, which he described as a "very good support base for a good year in 2025." He noted that Bank of America has a 6,666 price target for the S&P 500 for the next year, attributing the constructive outlook to earnings growth expectations from the firm's strategists. DeMare acknowledged "material and serious topics" of concern, including tariffs, taxes, and immigration, which he said create "extreme optimism and extreme pessimism." He described the base case as most Wall Street firms having "adjusted down" their expectations for Federal Reserve rate cuts, calling it a "material change." DeMare also identified liquidity gaps as a key risk, citing the 2023 U.K. gilt market disruption as an example of how such gaps can "snowball" and cause widespread disruption.