Markets are not in a bubble: Raymond James CEO
As markets hover near record highs the word “bubble” keeps coming up, but Raymond James CEO Paul Reilly doesn’t agree, saying there are always market corrections.
Reilly, during an interview on “Mornings with Maria”, said every time there are artificially low interest rates, it is worrisome, but so far this is a “good market.”
The executive added that what happens with tax reform could impact the markets with a 25% tax rate bill already built in to earnings. The CEO also talked about tax reform, stating that tax change is important for capital intensive or small businesses.
Raymond James has been hiring workers and Reilly said that a rollback of regulations could position his company to hire more employees.
“We have not seen new regulations, but we have not seen the regulations going away in our industry, but the talk is to go away, so the attitude is much more positive,” he noted, adding that “The problem with the regulations is that they are overlapping and confusing, and we are spending a lot of money with not enough benefit.”