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People / WEF Davos 2018 |
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Burgess COMMENTARY |
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Trump is right to take credit for the booming stock market, says billionaire Blackstone CEO Schwarzman
President Trump's policies, including tax cuts, will provide a big boost to U.S. growth, Blackstone co-founder Steve Schwarzman says.
Blackstone CEO: Global economy expanding despite geopolitical risk from CNBC. Blackstone CEO: Global economy expanding despite geopolitical risk Blackstone CEO: Global economy expanding despite geopolitical risk 35 Mins Ago | 07:12 President Donald Trump's policies, including tax cuts, will provide a big boost to U.S. growth, Blackstone Chairman and CEO Steve Schwarzman told CNBC on Tuesday. 'I think they'll have a substantial impact on the economy,' Schwarzman told 'Squawk Box' from the World Economic Forum in Davos, Switzerland. Schwarzman, who led the president's policy forum before it was disbanded, said Trump can take credit for the improved confidence of business leaders and the roaring stock market. 'You started to see this right after the election and the stock market started going up just in the anticipation of tax reform and tax cuts and changes in regulation,' Schwarzman said. 'Those things happened and are happening.' 
Steve Schwarzman speaking at the 2018 WEF in Davos, Switzerland on Jan. 23rd, 2018. Adam Galica | CNBC Steve Schwarzman speaking at the 2018 WEF in Davos, Switzerland on Jan. 23rd, 2018. Since the election, the Dow Jones industrial average has gained more than 42 percent as of Monday's close; the S&P 500 has gained more than 32 percent; the Nasdaq is up more than 42 percent. Trump has repeatedly taken credit for the U.S. stock market's record run. Even now, Trump has cited the market's recent performance as proof that his policies have been a success. Donald J. Trump ✔ @realDonaldTrump Unprecedented success for our Country, in so many ways, since the Election. Record Stock Market, Strong on Military, Crime, Borders, & ISIS, Judicial Strength & Numbers, Lowest Unemployment for Women & ALL, Massive Tax Cuts, end of Individual Mandate - and so much more. Big 2018! 5:31 PM - Jan 20, 2018 26,579 26,579 Replies 28,611 28,611 Retweets 126,741 126,741 likes Twitter Ads info and privacy Schwarzman had Trump's ear as chairman of the president's Strategic and Policy Forum, a group of influential American CEOs who met periodically to give Trump advice. The group eventually ended last summer as CEOs revolted against Trump's comments in which he failed to condemn violence at a white nationalist rally. Trump is expected to speak at Davos later this week, touting his 'America First' message. Schwarzman, co-founder of private equity giant Blackstone, said he'd been told the president's speech is 'pretty good' adding whatever Trump says will be heavily 'considered.' |
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Berkeley Lovelace Jr. | @BerkeleyJr | CNBC.com
January 23, 2018 ... Published 23 Mins Ago Updated 6 Mins Ago |
| The text being discussed is available at https://www.cnbc.com/2018/01/23/trump-is-right-to-take-credit-for-booming-stocks-says-billionaire.html and |