Wednesday, March 9, 2016
Jack Welch Turns Bullish on the Economy
The U.S. economy has become much better in recent weeks with businesses benefiting from strength in the auto and housing markets, former GE chief executive and ultimate establishment insider Jack Welch said today on CNBC.
"You're getting strength in autos. You're getting some real strength in housing. The housing thing spills off to so many different businesses," said Welch.
In his current role as a senior advisor to the private equity group Clayton Dubilier & Rice, Welch said he just finished two days of reviewing businesses and "things are looking up."
"There's clearly a pocket of change, particularly in the last couple of weeks in February and the first couple of weeks in March. It's that recent. It feels a lot better. There's no question about it," Welch said.
The idea that we are in the down phase of the Fed created business cycle and that the Fed has "run out of bullets" to manipulate the economy and that a miniscule 25 basis points hike in rates was going to doom the economy is absurd.
at 2:19:00 PM