A lumbering U.S. economy is not growing fast enough to create jobs, billionaire investor Wilbur Ross told CNBC on Thursday.
“I think the economy is going to continue to lumber ahead,” he said in a “Closing Bell” interview. “There’s not real lift. There’s not real top-line growth and top-line growth is what makes jobs.”
Housing is the one area of the economy that is growing strongly, however. And that is a result of the Federal Reserve’s quantitative easing program, Ross said.
“I think QE has done a few good things,” he said. “It’s certainly true it’s contributed to the stock market bubble and the bond market bubble, but it’s also true that it’s helped reignite the housing industry which is one of the very few strongly health parts of the economy.”