Schwarzman: US Growth 'Pretty Good' Despite Global Pressure, But Regulatory Changes and 2024 Election Give Pause
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Global economy has been under pressure, but US growth remains "pretty good," boosted by consumers tapping excess pandemic savings to spend.
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This consumer spending boost may extend with potential Fed interest rate cuts, which could "create a better market environment" and "keep us out of a recession."
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Schwarzman undecided on 2024 election support, wants "to see what the public has to say" first.
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Under Biden, regulatory environment has changed "in a negative way," accelerating complexity for businesses.
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Schwarzman seeing some investing opportunities now in areas like energy transition, data centers, and selective European real estate.