Irwin Gold on monetary policy
From Houlihan Lokey's Gold Says He's Troubled by Italy's Political Crisis · · Bloomberg Television
“This is a grand experiment in monetary policy which no one can predict definitively how it will go, but it sure feels good having low interest rates.”
On , Irwin Gold, Co-Chairman & Chairman of the Board at HOULIHAN LOKEY INC, spoke about monetary policy during Houlihan Lokey's Gold Says He's Troubled by Italy's Political Crisis on Bloomberg Television.
About Irwin Gold
In a September 2018 interview with Bloomberg, Houlihan Lokey Executive Chairman Irwin Gold said he was "troubled" by the political situation in Italy, noting that the firm had a joint venture in Milan and additional capabilities in other European cities. He stated that geopolitical risks are outside the firm's control but that Houlihan Lokey manages its business to succeed in any environment. Gold described the current low-interest-rate environment as "a grand experiment in monetary policy" that feels good but whose long-term outcome no one can predict. Gold said that if a populist government in Italy were to withdraw from the euro, causing a devaluation, it would be "a very difficult time" for Italian corporate borrowers. He noted that while the U.S. has the most efficient restructuring regimen, Italy's is less efficient, which he said creates opportunities for Houlihan Lokey on the capital markets and restructuring sides. Gold expressed confidence that any disruption could be addressed through capital markets solutions, adding that many credit-related funds are "salivating" for disruptions that allow them to deploy capital into fundamentally good businesses.