Blackstone Group LP Chairman and CEO Steve Schwarzman said on Tuesday he expected to see a “very substantial reversal of regulations of all types,” for the financial sector, following Donald Trump’s U.S. presidential election victory.
Schwarzman, who was picked by Trump to chair a panel of business leaders who will give him advice during his presidency, said the changes would boost U.S. growth and attract foreign investment. Blackstone is one of the world’s largest investment companies.
Speaking at an investor conference hosted by Goldman Sachs Group Inc , Schwarzman said the regulatory changes would be the largest in his roughly 45 year career. He expects them to spur inflation and rising interest rates.