If you promote economic growth, benefits for the American family will “ultimately” follow suit, according to former AIG Chairman Harvey Golub. He joined the FOX Business Network’s Neil Cavuto to discuss his outlook for the markets under Donald Trump’s leadership.
When asked whether the markets will correct he said, “It may but I would trade a bull market for growth in the economy. I really want to see underlying growth in the economy. I want to see people get back to jobs… I’m an American before an asset manager.”
The global markets plummeted in shock before recovering overnight from a more than 800 point deficit incurred after Donald Trump was declared the 44th President of the United States.
“It was an overreaction initially… I think the market could do very well,” he said. “Just the regulations, if he deals with that alone that helps heath care… consumer durables… manufacturing… [and] energy -- major sectors.”
In Golub’s opinion, addressing regulations could be an immediate boost to the markets.
“If we start to do something about Dodd-Frank, that will help the financial sector – and Dodd-Frank is a bloody disaster. We do away with Obamacare – it will be at an enormous, enormous boost to small businesses in this country,” he said.
When asked about his biggest concern about Trump’s first 100 days in office he said, “that something happens in trade.”
“International trade is important to our economic growth and to growth in the economies around the world. And they are net winners to the economy. The problem is that there are losers as well and we have to figure out how we handle the businesses and the people that are on the losing side of an overall trade wind so that we can go ahead with trade treaties that make sense for us,” he said.