CEO Gorman Still Optimistic About US Economy

Morgan Stanley CEO James Gorman has examined the US economy, and likes what he

CEO James Gorman of Morgan Stanley
CEO James Gorman of Morgan Stanley

sees. Despite the challenges presented by emerging markets such as China and elsewhere, Gorman is continuing to invest in the US market.

“I think we are now recognizing the U.S. economy is strong and getting stronger. That’s obviously very positive for the markets,” Gorman stated to FOX Business’s Maria Bartiromo in an interview on ‘Opening Bell’ Monday.

The interview marked what has now been five years of bullish behavior on Wall Street which has recovered in spades since the low point in 2009, rising almost 10,000 points since those crisis-laden days.

“If you look at the macro environment, I remain very bullish. The upside risk is the U.S. economy. It’s taken a while for people to get comfortable with that,” said Gorman, who noted “scar tissue from the crisis” continues to linger.

Gorman based his assessment on several factors, including improved US economic expansion, increased confidence from business leaders, the lowering of consumer debt, strong corporate balance sheets and recapitalized banks.

“The system is working well. It doesn’t surprise me the markets are performing,” Gorman asserted.

Michelle Grathers

About Michelle Grathers

Michelle Grathers is an international tax expert. She has consulted for a variety of firms and high net worth individuals on all tax- and legal-related issues. She also helps new companies develop payroll services, statutory audits and mergers and acquisitions. Contact Michelle at michelle[at]businessdistrict.com