Judy Shelton, senior fellow at the Independent Institute and a former Federal Reserve Board nominee, alongside Jared Cohen, President of Global Affairs at Goldman Sachs, dive into pressing economic and geopolitical topics. They discuss the turbulent future of the Federal Reserve amid calls for greater accountability and independence. Cohen highlights the energy demands of artificial intelligence and the need for 'data center diplomacy' in U.S.-China rivalry. The episode also touches on significant market shifts following recent political changes and the evolving landscape of technology.
The debate surrounding Federal Reserve independence raises concerns about economic stability and future monetary policy adjustments under new leadership.
Jared Cohen emphasizes the urgent need for robust energy infrastructure to support the growing demands of AI technology, suggesting various power sources.
Deep dives
Experiences with Psoriasis and Psoriatic Arthritis
Cindy Lauper and Chef Michelle Bernstein share their personal experiences living with plaque psoriasis and psoriatic arthritis, shedding light on the physical and emotional challenges they face. They discuss the impact of these conditions on their daily lives and the importance of addressing both the symptoms and the underlying causes. An emphasis is placed on the need for better awareness and understanding of how these diseases can affect not only the skin but also joint health. This conversation highlights the significance of community support and sharing experiences to alleviate the stigma associated with chronic skin conditions.
Understanding Cosentix and Its Benefits
Cosentix (Secukinumab) is introduced as a treatment option for adults suffering from moderate to severe plaque psoriasis and active psoriatic arthritis. The discussion focuses on the specific dosages prescribed for these conditions and the significance of consulting with a healthcare professional before starting treatment. Risks associated with Cosentix, such as allergies and the need for screening for tuberculosis, are emphasized to ensure patient safety. The conversation reinforces the idea that effective management of psoriasis and arthritis can lead to improved quality of life.
Evidence of AI's Energy Requirements
The accelerated growth of artificial intelligence (AI) technologies necessitates considerable energy to support operations, particularly in running large data centers. Jared Cohen discusses how AI demands baseload power sources, contrasting the limitations of intermittent power such as solar and wind. He highlights the complexity of generating sufficient energy to meet AI requirements, noting that nuclear, coal, and natural gas might be necessary to support these operations. This presents a pressing challenge for the U.S., which must navigate energy production and distribution constraints amid growing AI demands.
Future of Financial Markets and Leadership
Following recent elections, there has been significant movement in financial markets, with the S&P 500 and Nasdaq achieving new records. The conversation includes insights into the reshaping of leadership roles within the incoming administration, particularly related to national security and economic policy. Analysts note the swift pace at which administration staff is being selected, suggesting pre-planning is in place to facilitate a quicker transition. This dynamic highlights concerns about future monetary policy adjustments under the new leadership, particularly amid ongoing discussions about the Federal Reserve's independence and its implications for economic stability.
Lawmakers and economists are debating the future of the Federal Reserve after President-elect Trump’s promises to fire Fed Chair Jay Powell and Senator Mike Lee’s (R-UT) call to #EndTheFed. Judy Shelton and CNBC’s Steve Liesman to discuss the role of the central bank and the constitutional precedent for Fed independence. As the AI revolution ramps up, Goldman Sachs’s Jared Cohen highlights the infrastructure needed to support the technology’s energy demands. Cohen calls for “data center diplomacy” as AI underscores geopolitics and competition between China and the United States. Plus, the price of bitcoin reached nearly $90,000, Trump’s victory has lifted Elon Musk’s net worth by $70 billion, and Trump’s latest picks for his second administration include Sen. Marco Rubio, Rep. Mike Waltz and Gov. Kristi Noem.