Bill Ackman calls Trump the ‘most pro-business president we’ve ever had’
President Donald Trump’s presidency has been uniquely good for business, according to Pershing Square Capital Management CEO Bill Ackman.
“I think Trump is the most pro-business president we’ve ever had,” Ackman said Tuesday morning on CNBC’s “Squawk Box.”
Ackman pointed out that infrastructure and tax bills have positive effects on businesses. He also said the Fed was “accommodating” with interest rate cuts.
Ackman acknowledged that he was “somewhat concerned” about Trump’s market-shattering tariff policy, which was first announced in April. But Ackman noted that Trump changed his position after the billionaire investor suggested taking a pause before implementing the policy.
“I trust the president,” Ackman said. “I think he did an excellent job.”
Ackman said geopolitical risk for the market has decreased. Still, he said he wishes the United States and China had a “better relationship.”
On the other hand, Ackman called on senior executives of New York City-based companies to encourage their employees to vote in the mayoral elections to be held early next month. Ackman criticized Democratic mayoral candidate Zohran Mamdani, whose surprise victory in the primaries has unsettled Wall Street.
Ackman said Mamdani was “accurate in identifying problems in the city,” pointing to his particular focus on affordability and public safety. But Ackman said the Democrat has the “wrong” policies to address those challenges.
“We don’t want a socialist to run the country’s most important financial city,” Ackman said, referring to Mamdani. he said.
