In a recent interview with CNBC, Gabelli Asset Management Company founder Mario Gabelli shares his outlook on the markets and economy.

Here are highlights from Gabelli’s comments:

• “In terms of equities, we’re saying the economy is extraordinarily robust.”
• He notes the expected growth in real GDP (nominal GDP plus inflation) of between 10% and 12%, adding that even given rising costs, company balance sheets and cash flows for the first few quarters of this year are very strong.
• “I’m pretty optimistic about the economy.”
• According to Gabelli, the first half of 2022 will be strong due to the upcoming mid-term elections. He adds that infrastructure and climate issues will represent important areas of focus.
• “Wages will rise substantially,” and European markets will improve as vaccines are more widely available and administered.
• Emerging markets will come back, Gabelli said, particularly those of Brazil and India.