Blackstone CEO Says US Likely to Avoid Recession

Steve Schwarzman, CEO of Blackstone, expressed confidence that the U.S. will avoid a recession regardless of the outcome of the upcoming presidential election, citing strong economic fundamentals and stimulative policies from both candidates. He noted that key economic indicators like GDP growth and job numbers remain resilient despite inflationary pressures. Schwarzman, who supports Donald Trump after initially calling for new Republican leadership, emphasized that potential regulatory changes could affect the private equity landscape. He indicated that falling interest rates are likely to spur deal-making activity, particularly in markets like Japan, India, and Australia, while Europe may lag behind. Schwarzman also highlighted the unpredictability of policy implementation, as both candidates frequently revise their proposals. Overall, he remains optimistic about economic growth and transaction volume in the near future.