The market "screams" for participants to have a point of view, Gorman added in an interview on "Squawk Box" from the World Economic Forum in Davos, Switzerland.
The execution of promised policies from President-elect Donald Trump will be a key factor, Gorman said, but he argued it's "unlikely" that the economy would grow at a 4 percent pace.
"Four percent would be a massive move," he said. "But if we're at a solid 3 percent growth, I think that's a really good outlook for the U.S."
Gorman said he's not prepared to credit Trump alone for the new feelings of optimism about the economy.
"I don't know that I credit an individual. It's more a credit to a sense of some real positive change that is likely to occur on the economic front," he said, acknowledging it's fair to ask whether this change would have happened if Hillary Clinton had won the presidency.
"But frankly, corporate taxes, tax remediation, infrastructure spend, these are pretty big movers if they actually happen," he said.
While there are many positive forces in the market, "there's [also] a lot to remain cautious about," Gorman said. "The world is getting better, but not in a straight line."
"We've got the second-largest economy in the world, China, going through a major transition," he said. "There is a lot of geopolitical risk in obvious regions, [like] North Korea, parts of the Middle East, [and] what's going on in the refugee crisis in Syria and across Europe."