Written by Tom | Nov 7, 2019 12:00:00 AM
By Reuters Communications On Wednesday, Reuters hosted a Newsmaker event in New York with Blackstone Founder & CEO Stephen A. Schwarzman. Steve Schwarzman joined Reuters Editor-At-Large Sir Harold Evans for a discussion about his political and economic outlook to leading Blackstone, a global financial institution and his new book What It Takes: Lessons in the Pursuit of Excellence. Among the highlights of the discussion: -On the trade war with China, Schwarzman said he was optimistic that the U.S. and China would resolve the 16-month long trade war, "helping to ease tensions between two of the world's biggest economics." -On concerns of an impending economic recession, Schwarzman said he does not expect a recession in the near future, commenting "The consumers are doing quite well and it's the first time in many years that in part of our economic scale, people are out-earning inflation...When that happens, people spend money. I expect there to be a continued wage pressure because we're starting to run out of workers and this will continue as a sort of economic cycle for a while." The full interview can be viewed www.reuters.tv/l/PZNR and for the Reuters report please see here Media contact: Deepal.Patadia @thomsonreuters.com [Reuters PR Blog Post]