Billionaire investment banker Ken Moelis says Donald Trump has his nose in front in the race to the White House. And that could have big ramifications for the direction of US interest rates.

“Lots can happen, but I think it’s hard to figure out a way that if things continue as they are, that it wouldn’t be Donald Trump in my mind,” Moelis tells Andrew Pridham, the founder of MA Financial (formerly Moelis Australia) in an interview for MA’s podcast, What Matters.