The U.S. economy will rebound so sharply in the second quarter that the U.S. Federal Reserve could hikes rates twice this year, according to Alain Bokobza, head of global asset allocation at Societe Generale.
"You have an economy in the U.S. which is running on trend 3 percent (annualized gross domestic product)," the bullish strategist told CNBC Thursday. "We believe the Fed must very gradually, very slowly (act), but the Fed must exceed the zero rate policy."
First-quarter annualized gross domestic product (GDP) for the U.S. economy is likely to come in at 1.5 percent, according to Bokobza, due to the bad weather in several parts of the country. In the final quarter of 2014, the country's economy expanded at a 2.2 percent annual rate.
But Bokobza said he expected the second quarter to show blossoming growth of 5 percent. Additionally, he said there would be a pickup in inflation figures, which have been hit by the dramatic fall in oil prices.