RiskReversal Pod Powell Not Bullied + FactSet CEO Phil Snow on AI, Legacy & Leadership
Jul 31, 2025
Phil Snow, CEO of FactSet, shares insights from his nearly 30-year journey in the financial industry. He discusses the transformative power of AI and the importance of company culture in fostering client trust. The conversation dives into the competitive landscape with Bloomberg and how strategic acquisitions have driven FactSet's growth. As he prepares for his transition to new leadership, Phil emphasizes the need for adaptability in a rapidly evolving market and the significance of maintaining strong relationships in the tech-driven finance world.
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Tariffs Impact Fed Rate Expectations
- Powell indicated inflation is creeping in due to tariffs, affecting market expectations for rate cuts.
- Fed Fund futures shifted sharply as traders recalibrated for fewer cuts amid rising uncertainty.
Tariffs Hurt Margins, Raise Prices
- Tariffs generate revenue for the U.S. but ultimately pressure corporate margins.
- Companies may absorb costs initially, but consumers will eventually face higher prices.
Market Wealth Strongly Affects Economy
- The economy depends heavily on the stock market for the wealth effect.
- A downturn in markets can feed back and significantly affect consumer health.
