It’s countdown time to the important meeting of the Federal Reserve and investors are anxious about a change in interest rate policy. The big worry is that the central bank will speed up its timetable to hike rates earlier than expected.
While stock market investors are spooked, Loews CEO James Tisch tells me he is eager for rates to go up right away and “they can’t go up a minute too soon.”
Tisch, heads up a $15 billion dollar conglomerate that includes insurer CNA Financial, the Loews luxury hotel chain, and Diamond Offshore Drilling which provides rigs to companies exploring for oil.
He says his businesses are growing even though the economy is “lukewarm”.
Tisch also talks about his biggest worry: high corporate taxes and what he would like Washington to do to make U.S. companies more competitive in the global marketplace.