Paribas' Dailey: Economy can avoid a deep recession and market can rally late in '23

Geoff Dailey, head of U.S. equities at BNP Paribas, says he expects the economy to go through a recession, but not one that is particularly deep or long, provided that the Federal Reserve's moves work toward reducing inflation. Dailey expects the market to be particularly volatile around news events like inflation and unemployment reports, but says that volatility will remove much of the building pressure for something bigger and more painful; his worry is that if inflation doesn't cool, the Fed could keep pushing until the economy craters, causing the worst-case scenario of a deep downturn. Also on the show, Mark Yusko of Morgan Creek Capital Management talks about the 'FANGMAN' stocks -- which he considers highly overvalued despite leading the market this year -- as well as funds and ETFs in the Market Call, Sam Huisache discusses a recent Clever Real Estate survey showing Americans don't feel that marriage is much of a factor when it comes to home buying, and Tom Lydon of VettaFi makes a consumer-centric fund his ETF of the Week.