Turnaround on its way - one expert's opinion

Could the long-awaited rebirth of the U.S. economy be just around the corner? One financial expert says he sees positive signs.

“We believe that the U.S. and global recessions are over and that sustained economic recoveries have begun, both in the U.S. and worldwide,” says Richard Hoey, chief economist of BNY Mellon and Dreyfus.

“The ‘global emergency rescue’ of the financial system and the economy was a major success, at least from a short-term cyclical perspective and potentially from a long-term perspective, as well.”