Morgan Stanley CEO James Gorman on Monday said with the current economic growth that strong, the Federal Reserve should raise interest rate soon to combat a future downturn.
James speaks ahead of central bank’s two-day policy meeting. He noted during the policy meeting FED is likely to give out roadmap for monetary tightening in 2022.
“We are heading toward a rising interest rate environment, James told CNBC. “I felt the Federal Reserve would be better off storing away some of the rate increases, so when the inevitable downturn comes, you’ve got some ammunition to fight with.”
He further said in the shows, “I don’t think it derails the economy. This is what you need, you need balance in the economy,”.
