Posted 12/22/2023, 6:06:00 AM
Morgan Stanley CEO: Markets Will Take Off Once Fed Finishes Hiking Rates
- Morgan Stanley's outgoing CEO James Gorman says markets will "take off" once the Fed finishes raising rates
- Gorman notes deals have slowed recently due to uncertainty around financing costs from Fed rate hikes
- He expects markets to rebound after the Fed signals an end to rate increases, or starts cutting rates
- Gorman believes new rules have made the banking system much safer since the 2008 crisis
- He says recent U.S. bank failures were due to the banks' "own stupidity," not systemic issues