Stocks could be headed toward new highs on news from Fed Chairman Ben Bernanke, Deutsche Bank Chief U.S. Economist Joe LaVorgna said Wednesday.
On "Fast Money," LaVorgna said that he expected the Federal Reserve to continue its "ultra-accommodative" monetary policy.
"I would be stunned if the chairman and his colleagues did anything other than that," he added.
While investors might become spooked by details of the Federal Open Market Committee's meeting, LaVorgna said that the bull case for stocks remained intact.
"Investors might find something negative in today's statement, but typically the reaction of equities over time tend to match what the fundamentals suggest," he said. "And the Fed fundamentally is going to be very easy for a long time.
"This really is a sweet spot for risk assets."
Trader disclosure: On March 20, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Enis Taner is long GS; Enis Taner is long SODA CALL FLY; Enis Taner is long FDX PUT FLY; Enis Taner is long HD PUT SPREAD; Enis Taner is long FXE PUTS; Mike Murphy is long AAPL; Mike Murphy is long BAC; Mike Murphy is long IR; Mike Murphy is long JCP; Mike Murphy is long TOL; (as of Friday 3/14) Jon Najarian is long JPM CALLS; Jon Najarian is long MGM CALLS; Jon Najarian is long FIG CALLS ; Jon Najarian is long KKR CALLS; Jon Najarian is long XLF CALLS; Jon Najarian is long STX CALLS; Jon Najarian is long WLL CALLS; (as of Monday 3/18) Pete Najarian is long AAPL ; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long YHOO; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long COP CALLS; Pete Najarian is long MRO CALLS; Pete Najarian is long ABX CALLS; Pete Najarian is long CZR CALLS; Pete Najarian is long QQQ CALLS; Pete Najarian is long MTG CALLS; Pete Najarian is long EMC CALLS; Pete Najarian is long CROX.
