Chief investment strategist at
MFS Investment Management
Swanson likens the US economy to a low-flying helicopter:
"The helicopter's hovering. It's not crashing, but it's not taking off, he said in an interview.
He predicts the economy will begin to rebound in late summer or early fall. He expects the Federal Reserve to cut the federal funds rate by another quarter of a percentage point at its June meeting.
"International growth remains strong; the dollar is weak, so a lot of our exporting business is doing really well; and corporate America still has a lot of cash on its balance sheets," he said. "So I think those three things bring us to resuming growth later in the year."