By Reuters Communications
On Wednesday, Reuters hosted a Newsmaker event in New York with Blackstone Founder & CEO Stephen A. Schwarzman.
Steve Schwarzman joined Reuters Editor-At-Large Sir Harold Evans for a discussion about his political and economic outlook to leading Blackstone, a global financial institution and his new book What It Takes: Lessons in the Pursuit of Excellence.
Among the highlights of the discussion:
-On the trade war with China, Schwarzman said he was optimistic that the U.S. and China would resolve the 16-month long trade war, “helping to ease tensions between two of the world’s biggest economics.”
-On concerns of an impending economic recession, Schwarzman said he does not expect a recession in the near future, commenting “The consumers are doing quite well and it’s the first time in many years that in part of our economic scale, people are out-earning inflation…When that happens, people spend money. I expect there to be a continued wage pressure because we’re starting to run out of workers and this will continue as a sort of economic cycle for a while.”
[Reuters PR Blog Post]