Beth Hammack

Aravind Srinivas, CEO of Perplexity, an innovative AI search engine company, joins Beth Hammack, the Cleveland Fed President and former Goldman Sachs market participant. They dive into the current market volatility influenced by U.S.-China trade tensions and antitrust scrutiny over tech giants. Srinivas sheds light on how AI is reshaping competition in the search market. Meanwhile, Hammack shares insights on monetary policy and data-driven decision-making, all while juggling the cultural highlights of events like the Kentucky Derby.

Beth Hammack, the global treasurer at Goldman Sachs, and Jason Granet, head of LIBOR transition efforts, delve into the nuances of LIBOR's decline and the industry's shift to alternative rates. They discuss the historical significance of LIBOR and the scandal that led to its downfall. Hammack emphasizes the anticipated improvements in market safety post-transition. The conversation highlights the regulatory efforts necessary to implement new benchmarks like SOFR and the broader implications for financial products and stakeholder education.