Squawk Pod
Trump’s First Moves, Lazard CEO, & the Property Brothers 11/11/24
Nov 11, 2024
Peter Orszag, CEO of Lazard and former OMB director under Obama, discusses the economic impacts of President-elect Trump's cabinet selections and their potential ripple effects on the market. He emphasizes the importance of Fed independence and strategic planning in a shifting political landscape. Meanwhile, Drew Scott, co-founder of Scott Brothers Global, shares insights on the current housing market and their new HGTV show, which encourages homeowners to renovate instead of relocate, addressing affordable housing and innovative solutions like Accessory Dwelling Units.
36:55
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Quick takeaways
- The appointment of Tom Homan as border czar may significantly impact labor markets by reducing workforce availability, subsequently affecting inflation rates.
- The anticipated increase in mergers and acquisitions post-election reflects a renewed optimism in the financial markets driven by expectations of a favorable business environment.
Deep dives
Immigration Policy and Economic Impact
The appointment of Tom Homan as border czar raises significant concerns regarding immigration policy and its effects on the economy. Homan is known for advocating a robust deportation strategy, which could lead to a decrease in the working population in various sectors, notably in construction and services. This reduction in workforce may create upward pressure on wages, subsequently impacting inflation rates, as businesses may need to compensate for the lack of laborers. Observations suggest that this shift could also modify the landscape of legal immigration, potentially complicating the labor market dynamics.
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