Nuveen's Doll Predicts Growth, Higher Stocks and Rate Hikes in 2015

Investors will face a bumpy ride, but stocks will beat bonds, commodities and inflation in 2015, said Bob Doll, Chief Equity Strategist at Nuveen Asset Management. Doll predicts that the U.S. GDP grows 3% for the first time since 2005. Meanwhile, he says core inflation will remain contained, yet wage growth will start to increase. Doll forecasts the Federal Reserve will raise rates, as short-term rates rise more than long-term rates. Furthermore, Doll said the European Central Bank will institute a large-scale quantitative easing program. Finally, he forecasts the U.S. will contribute more to global GDP growth than China for the first time since 2006.