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Carl Icahn: Fed interest rate policy ‘could be disastrous’

September 29, 2015, 12:28 PM UTC
CNBC Events - Delivering Alpha 2015
CNBC EVENTS -- Pictured: Carl Icahn, Chairman, Icahn Enterprises, at the 2015 Delivering Alpha Conference on July 15, 2015 -- (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images)
Photograph by Adam Jeffery — CNBC/NBCU Photo Bank via Getty Images

There’s danger ahead for the U.S. economy, activist investor Carl Icahn warned in a video released Tuesday.

In a 15-minute video, Icahn warned that continued low interest rates set by the Federal Reserve “could be disastrous” and cause asset bubbles, according to Business Insider.

Icahn’s video was also a chance for the billionaire to throw further support behind Republican presidential candidate Donald Trump. The candidate asked Icahn to be his potential Treasury Secretary in July–an offer Icahn refused, telling Trump that he had a “day job.” But Icahn is still very much a Trump supporter.

“I don’t think the other guys understand the major problems we face,” Icahn previously said about the other candidates, according to USA Today. “I grew up on the streets in Queens. I never could have been this successful in any other country in the world. I hate to see it go down the tubes and that’s what’s sort of happening. We’re losing our hegemony. I really believe it.”

Icahn says that the low Fed rates have encouraged chief executives to pursue “financial engineering.”