Wilbur Ross: Raising Rates Soon Greater Danger Than Being A Little Bit Too Slow

Billionaire investor and Chairman and CEO of WL Ross Holding Corp

, Wilbur Ross, was on CNBC Thursday to talk about Fed's statement on Wednesday and the volatility in the markets. Fed Raising Rates Soon A Greater Danger "Rather than saying she [Janet Yellen] nailed it, I would say she put a nail track into it because this is a very gradual shift in policy," Ross said. And frankly I think it is way too much focussed on whether they raise it a little bit in June or they do in September. I think in the overall scheme of things, it really doesn't make that much difference, but I think the greater danger is if they raised it too soon rather than if they are a little bit to slow because I don't see real inflationary pressures yet coming into the system." Market Volatility Ross was asked why he thinks that U.S. risk assets have gone through a correction in the past couple of weeks. He replied, "I think, it's a lot of things. One is the overall international situation, you have had a number of elections, a number political things going on. Recently we saw the re-election of Netanyahu in Israel that was a real cliff-hanger there. You have a lot of anxiety coming up about the U.K., the poles show the conservatives pretty much in a tie with Labour, so that's are sorts of concern and then you have these sort of extremist parties and Euro sceptics springing up throughout Europe." "And you saw the big riot yesterday at what have been intended to be the opening ceremony of where the European central banks' new headquarters. There's a lot of agitation going on and I think that's part of it and I think continuing confusion about monetary policy undoubtedly is part of that is as well," Ross concluded.