UBS' Art Cashin joined me at the bar at Bobby Van's Steakhouse across the street from the New York Stock Exchange for our 10th annual look at the year ahead, and the year that was.
Art's two biggest worries for 2018 are:
- China could interrupt the synchronized global growth story by aggressively cracking down on excessive lending, and
- The Fed: everyone is worried that inflation will accelerate, but the risk may be that inflation remains too low and the Fed cuts rates less than expected.
Art also talked about bitcoin mania. He said it may not work out the way the bitcoin enthusiasts think it will. The government will likely want to use the blockchain as a way to transition to a cashless society and use it as a way to keep track of where the money is, Cashin notes. This is the opposite of what many believe the intent of bitcoin was, which was to keep most transactions private and away from the government, he added.
More from Art in the video, including how much more stocks can run on tax cuts, and his biggest surprise of 2017.