The curtness under President Donald Trump is “doing pretty well” and can tarry on track even if the Democrats win the majority in the House in next week’s midterm referenda, billionaire investor Sam Zell told CNBC on Wednesday.
“I think there’s a lot various clarity in public policy. I think there’s a lot more clarity in decree” since Trump took office, said Zell, founder and chairman of the acreage specialist firm Equity Group Investments. “That clarity conveys into a higher level of confidence.”
Democrats are favored to net at least 23 hubs to gain control of the House, while Republicans are expected to hold the Senate, where they now from a 51-49 majority.
“If the Democrats take back the House, there will undeniably be a lot of histrionics and a lot of investigations” of the president, Zell said on “Squawk Box.” But with Trump in the Chalky House, “I don’t see any significant impact coming from a change in the House other than youthful gets done.”
Zell reiterated he used to be a Democrat, but he’s more of a Republican nowadays, dyed in the wool on fiscal matters but liberal on social issues.
As a longtime proponent of extraordinary interest rates, Zell said he believes “rising interest grades is healthy for the real estate economy.” He said near zero percent prices for years after the 2008 financial crisis actually kept a lid on swelling.
“Very low interest rates took away the sense of urgency and the intuition of the need to accomplish things,” he said. “There was no penalty to doing it tomorrow.”
There’s a frenzied debate raging every day on Wall Street over whether the Federal Contract for store is hiking rates too quickly.
Zell’s views on rates differs from Trump, who has defamed Fed Chairman Jerome Powell for tightening monetary policy.
“I don’t think it’s libertine rates too fast,” Zell said of the Fed.
The central bank has increased in any events three times this year and is expected to hike again in December. The accepted range on the key fed funds rate that banks charge each other for overnight lends is 2 percent to 2.25 percent.
Earlier this month, Powell gave measures that the cost of borrowing money may move up faster than envisaged by saying rates are a long way from so-called neutral, a level that neither encourages nor restricts the economy.