What did the Treasury Secretary Scott Bessent said at Milken event (and how his critics reacted)
- Today's CEO every day: Diane Brady at the Milken Institute in Los Angeles at a global conference.
- A great story: Trump's film tax may have the proposed opposite impact.
- Markets: The Western markets are down, the Asian markets are up.
- Analyst notes From EY -ST Fed Independence, JPMorgan Chase on Global GDP, JPMorgan Chase Earning and Employment Pantheon Macroeconomy.
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Good morning The Global Conference of the Milken Institute in Los Angeles, focused on finance, charity and health of every year -old policy makers and leaders. This junction makes interesting comparison, where the leaders of university and non-governmental organizations who feel the pain of the Trump administration are mixed with investors who see profits. Elon Musk He spoke about Doge and the future of mankind at a private meeting, one participant said, not necessarily in this order. Last night at dinner, the spikers turned to power policy.
Of course, the tariffs remain in mind. If Scott Bessent, the secretary of the Treasury, told the audience that trade, tax cuts and deregulation would stimulate the US greater prosperity, then how and when it will happen is unclear. (My colleague Jeff John Roberts has a deeper analysis of Bessent's comments.) Bessent did not talk much about tariffs, but mentioned US debts to about 3% and growing production in the US
In the following panel, Jane Fraser, CEO of Citigroup, noted that the bank's customers could accept 10% of the tariffs compared to 25%, and are waiting for security. BCG Global Tool Rich Lesder advises its customers to focus on price strategies and productivity: “AI amplification, adaptability, these are essentially correct moves.”
Many of the investors I have spoken of here are confident that this is a good time to make money. With regard to opportunistic credit investments, Victor Khosla said with strategic partners: “Last year we were really busy and we have become much more denser.”
Run Calamos Investments CEO John Koudoun Capital -protected Bitcoin ETF This year, Trump is in the middle of the support for cryptocurrencies. “We would like to bring more people in the early class,” he said. “If you look at the middle mother and pop, they are scared.”
Who can blame them? As Aon CEO Greg Case said, “We are almost not talking about a risk connection” – exploring the impact of trade, technology, weather and labor trends. “We continue to see the value of working together, working for public and private sector. If it works, it is amazing.”
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Contact each day through Diane Brady at diane.brady@forten.com
This story was originally reflected on Fortune.com
