Recession ‘won’t be easy’ to avoid: Billionaire investor
The Carlyle Group co-founder David Rubenstein argues The Fed may face challenges if they decide to raise interest rates without ‘destroying the economy.’
The Carlyle Group co-founder David Rubenstein joined "Mornings with Maria," Tuesday, warning that recession "won’t be easy" to avoid, and the Fed may face challenges if they decide to raise interest rates without "destroying the economy."
FORMER FED CHAIR BERNANKE SAYS INFLATION TODAY ISN'T 'ANYWHERE NEAR' 1970S PRICE SPIKE
DAVID RUBENSTEIN: I do agree with [former Fed Chair Bernanke] that the situation is different than the 1970s. I worked in the White House then, and it was a much different situation, a different type of economy. We got interest rates up to about 19%. Inflation was about 15%, and the economy was completely different. Now we're faced with a serious situation and not quite what we had in the 1970s… I think the Fed has the ability and much greater knowledge than the Fed probably had about the economy in the 1970s.