Jim Cramer says he expects a "robust" U.S. economy next year, with no sign of a recession in sight.
"I'm still sanguine about the situation," Cramer said in his latest monthly conference call with members of his Action Alerts PLUS club for investors.
"What makes me so comfortable ... given what's going on in Washington and looking at the tape?" Cramer asked. "I think my confidence rests with my myriad interviews with CEOs, who express a willingness to embrace the moment as a good one -- aided by a president who doesn't get in the way of their success and abetted by cheap capital even as short rates march higher."
Cramer conceded that the U.S. Treasury yield curve appears to be flattening, which historically has meant that a recession is coming.
But he said "my worldview doesn't include that scenario, because I foresee a robust economy in 2018 as the benign forces [continue]. I also think that the weaker dollar -- a key prop to this rally -- may be here to stay." This chart shows the U.S. Dollar Index's recent slide:
Cramer also noted that Germany's report this week of strong 3.3% growth in gross domestic product should force the European Central Bank to raise Eurozone interest rates, "putting a ceiling on the dollar for certain."
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