While billionaire investor Carl Icahn said he wouldn’t accept the Treasury Secretary nod in a Donald Trump administration, he agreed with Trump’s take on the markets.
“[Trump] is right on one thing ... in financial markets, I believe that there really is a bubble brewing,” he told FOX Business Network's Trish Regan during her appearance on Cavuto: Coast to Coast.
Icahn said the current interest rate environment means danger ahead for the economy.
“Interest rates now are at a low that, in the history of the Federal Reserve, they’ve never been held down this long, and I don’t think that anyone will deny this is unchartered territory and it could be very, very destructive to our markets and our economy,” he said.
He said it is all part of a vicious cycle.
“This market is being built on earnings. Everybody loves to see earnings, how well you’re doing… and the earnings, if you really dig into them, are built on these very low interest rates.”
As for why he declined Trump’s would-be offer, he added: “I sleep too late in the morning.”