Tuesday on CNBC’s “Squawk Box,” Pershing Square Capital Management CEO Bill Ackman said President Donald Trump has been the best for businesses during his tenure.
Ackman said, “Yeah. I would say there’s a lot of positive. Let me be optimistic for a moment. I’m negative on New York if he’s elected, but I’m positive on the country. You know, clearly we have the most pro-business president we’ve had in a very long time. And we also have a lot of, you know, very significant, things that have been announced, but but the effects have not yet really taken effect.”
He continued, “So one infrastructure bill from the past, we have the more recent tax bill, which gives 100% depreciation. For investment, we have this massive I, you know, infrastructure investment that’s like building the railroads, of the, you know, the early part of the, the 20th century. We have the productivity effects of AI that are only just starting to, you know, have, significant effect. We have interest rates coming down meaningfully the ten years below, you know, 4%. We have a fed that’s accommodative, likely to sort of cut, interest rates. You know, so these are all, I would say, very, positive, for the economy and for markets.”
Co-host Joe Kernen said, “There’s a time where I think you wouldn’t have called Trump the most pro-business president, when a lot of people were worried about tariffs. A lot of people worry about tariffs, obviously, in April. Is it that those tariffs never really, came. The worst case scenario obviously didn’t happen. And probably at this point most people think they’re unlikely to happen.”
Ackman said, “Actually I think of I think Trump has been the most pro-business president we’ve ever had.”
He added, “I was a little bit concerned about the, you know, the scale of the tariffs and how quickly they were about to be implemented. My suggestion to the president was to take a 90 day pause. And to his credit, he, you know, modified that position.”
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