Market Overview

Robert Hormats Wants More U.S. Infrastructure Without Political Influence

United States Under Secretary of State for Economic Growth, Energy, and the Environment Robert Hormats has had a long and rich career in both politics and business.

On Thursday morning, he sat in as a guest host on CNBC's Squawk Box, where he shared views on U.S. infrastructure expansion during the program's closing minute.

"I think the United States needs more infrastructure. We've had a period of very low interest rates. We have not used this time to invest in much-needed infrastructure, but the way we do it has to change. It can't be political benefits for the influential. It has to be based on sound, private sector decisions as to what infrastructure investments make the most sense, because we're not building out future productivity if we waste the money, if we use it for political reasons. It has to be done to strengthen the economy," said Hormats.

Related: J.P. Morgan Funds' David Kelly Calls For More Balance To Fed Policy

"Eisenhower understood this. We've got to figure out a better way of doing it. Both to create jobs, good jobs, and also to strengthen the future of the economy. It has to be depoliticized and be more orientated toward the private sector."

At the time of this writing, Jason Cunningham had no position with the mentioned entities.

Posted-In: and the Environment CNBC CNBC's Squawk Box energy Robert Hormats United States Under Secretary of State for Economic GrowthCNBC News Politics Econ #s Economics Media General Best of Benzinga

 

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