Goldman Sachs Chief Equity Strategist Abby Joseph Cohen says she thinks the U.S. won’t fall into another recession, and sees stocks as “very attractively valued”. 

“All you need to believe is that we will avoid another recession over the next couple of years,” she told CNBC. “And that is indeed our forecast, even though we see growth has slowed somewhat.” She added that interest rate levels make it “hard for us to see how bonds can generate the same kind of returns going forward that they have over the last 30 years. Equities seem to be very attractively valued.”

Cohen says that growth has slowed recently, and that a mild winter may have “puffed up” growth figures in the first quarter. But she thinks the long-term term trend of growth is still to the upside.