Nelson Rising: Fed Shouldn't Raise Interest Rates
With a decision on raising interest rates expected next week, Rising Realty Partners CEO Nelson Rising has released this video with his take on the US economy.
Nelson accurately predicted the Fed would not raise rates at its October meeting, and immediately following told Bisnow he believed it more likely than not that rates will go up slightly in December.
But Nelson says the Fed should not raise rates because of a number of "dark clouds" on the horizon. He cites an incomplete housing recovery, the slowing Chinese economy, and the impact recent terrorist attacks could have on trade as some of the economic concerns.
Still, Nelson remains bullish on the US economy, as job growth remains strong and unemployment is down to 2008 levels.