President Obama's State of the Union address was "business focused" and is part of a welcome move to the center, a major private equity player and sometime critic of the president told CNBC Wednesday.
"It is clearly really central to an economic recovery. Previously there was sufficient antagonism and uncertainty," he said. (Watch video)
Schwarzman called the focus on business "a huge shift."
Among other things, the president called for a cut in corporate taxes and greater investment in research and development.