Evercore’s Altman Says Cuts Imminent as Sequester Deal Unlikely

Evercore Partners Inc. (EVR) Chairman Roger Altman said the Obama Administration and Congress aren’t likely to reach agreement on avoiding automatic spending cuts scheduled to go into effect March 1.

“There’s not going to be a deal,” Altman, a former U.S. deputy treasury secretary, said today in an interview with Betty Liu on Bloomberg Television’s “In the Loop.” “What’s likely here is that the sequester will take effect, but not long enough to have a big impact on the economy.”

To contact the reporter on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net

To contact the editor responsible for this story: Steven Crabill at scrabill@bloomberg.net

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