Real estate billionaire Sam Zell says the Federal Reserve has been wasting precious time in getting interest rates back to the level they belong.
“The kinds of interest rates we’ve had are like basketball without a shot clock,” The Real Deal.com quoted the billionaire chairman of Equity Group Investments as recently saying. “There’s no sense of urgency. There’s no penalty in deferring making a decision,” he said.
Zell also said he’s bullish on foreign investment but doesn’t have much hope for an infrastructure boom under the Trump administration.
“The only way we’re going to get anything done on infrastructure is if we’re able to superimpose the benefits and objectives of the whole country over those of the tree-huggers,” he said, referring to the scores of environmental studies that come with major building projects, Real Deal explained.
“The reality is, saving the trees when the rest of society can’t function —