The private equity billionaire and Carlyle Group cofounder says the economy will be just fine. He took to the airwaves on Tuesday to assure the American public that inflation talk is overblown and that fears of an imminent recession, propelled by COVID-19, are misguided. He also dismissed fears of how bad it’s getting in the stock market.
“I don’t see any big, gigantic market correction of the type that’s going to push us into a recession. I don’t see that at all,” Rubenstein said on CNBC. “I think the market correction will be modest, relative to what we’ve seen in the past when you have a gigantic correction.”
Rubenstein’s Carlyle Group, one of the biggest private equity firms in the world, manages $301 billion globally. He’s a major philanthropist, having donated millions to institutions such as Harvard and PBS. And he has had a front-row seat to historic inflation, serving as a top adviser to President Jimmy Carter, whose presidency was crippled by the Great Inflation of the 1970s.
Read more: Yahoo Finance
