Steve Cohen, of Point72 Asset Management, was quoted saying that the US economy may fall into a short-lived recession this year before rebounding in the first quarter of next year, according to a report by Bloomberg.

According to the report, Cohen was quoted saying that, “It’s only going to be short-term in nature,” Cohen said at the Robin Hood Investors Conference, and

Cohen was also quoted saying that economic growth will jump next year and equity markets will rally 3% to 5%, prompting interest rates to rise “higher than people think,” according to the report.