The Carlyle Group co-founder David Rubenstein said it's less likely the Democrats win a majority of the seats in the House of Representatives during the 2018 midterms thanks to the continued strength of the economy.

Rubenstein, 68, said that low unemployment and healthier economic conditions may make voters less inclined to split with President Donald Trump and Republican leadership.

"I think about two months ago … the conventional wisdom was that the Democrats would probably pick up the House. I’d say that’s not necessarily conventional wisdom today, it’s going to be very, very close," he said Wednesday in New York at the Delivering Alpha conference.

The private equity executive said the success of the economy under President Trump and Republican leadership in Congress should help mute what would otherwise be more vocal opposition from voters or worries from Wall Street.