Pershing Square CEO Bill Ackman said two geopolitical conflicts — the Ukraine-Russia and Iran wars — along with elevated inflation and interest rates are holding back an otherwise "booming market environment."

"Once the overhang of the war is done — and it sounds like we're also potentially heading in the right direction with Russia-Ukraine — energy prices could come way down, and obviously that would be very good for inflation and markets," Ackman told CNBC's "Squawk on the Street" on Thursday. "We're going to have an amazing 2027."

Ackman, who called the Iran conflict an "extremely well-executed war," believes that once there's peace in the Middle East, it will be great for the region and "ultimately great for the United States."

Higher crude prices have pressured stocks all year, as traders fear elevated energy costs will drive up inflation and force the Federal Reserve to raise rates. U.S.…