Fisher Investments founder Ken Fisher argued the U.S. economy is unlikely to fall into a serious recession because year-over-year lending growth is "tremendously strong", telling "Cavuto: Coast to Coast" Wednesday that recessions are typically "surprises" and a 2023 recession would be the most anticipated ever.

KEN FISHER: You cannot have the big bad thing [recession] that people fear the way they fear it with year-over-year lending growth being robust. Lending growth is tremendously strong and continues strong because the loan base upon which bank lending is built is very low cost compared to treasury rates or fed funds rates, and they lend at longer-term rates, so there is a big spread. They lend. The other point is the argument from my January 30th "New York Post" column which is, we have been looking for recession and anticipating it for the longest time in all of history that you can measure. 

JANET YELLEN: 'YOU DON'T HAVE RECESSION' WITH UNEMPLOYMENT AT 50-YEAR LOW

If this recession occurs, it will be the most anticipated ever. Anticipation is mitigation. Businesses have been preparing. Some laying off. Lots freezing all around the world, cutting costs, cutting advertising, cutting capital expenditure, paring down. Recessions normally cause firms to correct for the excesses of prior expansion period. We’re doing that now in advance. How much more might be done? I don’t really know, but the fact is anticipation is mitigation and that keeps you from having that terrible time everyone is looking for.