UBS On-Air: Market Moves Talking Markets Podcast with Jan van Eck of VanEck
8 snips
Oct 10, 2025 
Jan van Eck, the CEO of VanEck, shares invaluable insights on the macroeconomic landscape. He discusses how U.S. trade policy and tariffs can improve fiscal health while impacting growth. Jan outlines the potential of AI to transform the economy by 2025 and highlights the increasing energy demands associated with it, including nuclear power's role. He also advocates for gold as a strategic investment amidst low U.S. demand and emphasizes the exciting prospects in India and stablecoin legislation that could reshape payment services.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Shrink The Deficit
- Tariffs are materially reducing the U.S. budget deficit by roughly $300–$400 billion per year.
- Jan van Eck says this fiscal effect slows growth but improves long-term U.S. fiscal health.
Slowdown Likely, Not A Deep Recession
- Van Eck expects slowdown from lower fiscal spending but not a deep recession with two negative GDP quarters.
- He urges staying fully invested because countervailing forces like AI should offset a mild slowdown.
Remain Invested Amid Countertrends
- Stay fully invested as multiple countertrends, notably an AI boom, can buoy markets despite fiscal slowdown.
- Shift only if the Fed aggressively tightens monetary policy, which Van Eck does not expect soon.