Bloomberg Talks

Jake Auchincloss, a Democratic Congressman from Massachusetts, shares insights into the potential release of the Epstein files and his concerns surrounding government funding. He highlights the political tensions and frustrations stemming from budget negotiations and a possible rescissions package. Auchincloss emphasizes the need for bipartisan solutions to pressing issues affecting Americans. With the threat of government shutdowns looming, he discusses the importance of accountability and confronting international challenges.

Paul Jacobson, the Chief Financial Officer of General Motors, dives into the company's second quarter earnings, highlighting the financial impacts of recent tariffs on EV sales. He discusses strategic pricing adjustments and cost controls to maintain consumer trust. Jacobson emphasizes investments in U.S. production to enhance supply chain resilience post-COVID-19. He presents an optimistic view on future production stability tied to trade agreements and outlines GM's robust capital allocation strategies, including plans for share repurchases to boost shareholder returns.

Heather Pringle dives into the booming growth of the global space economy, noting an impressive 8% increase driven by private sector investments. She highlights the vital subsectors fueling this expansion and their potential for future growth. The discussion also touches on U.S. leadership in the space economy, emphasizing national security investments and the pivotal role of the U.S. Space Force. Additionally, Pringle addresses the competitive landscape with nations like China as they vie for power in space.

Hans Vestberg, the CEO of Verizon Communications Inc., shares insights on the company's booming revenue, which topped $34.5 billion, and how favorable tax reforms have enhanced their profit outlook. He discusses strategies to counter subscriber losses in the wireless sector and emphasizes growth in broadband and fixed wireless services. Vestberg also delves into the financial impact of the recent Spectrum auction, highlighting Verizon's commitment to disciplined capital management and the importance of tailored customer offerings.

Christian Sewing, CEO of Deutsche Bank, and Roland Busch, CEO of Siemens, dive into the 'Made in Germany' initiative aimed at revitalizing the country's economy. They discuss plans for over €600 billion in investments targeting modernization and digital transformation. The conversation highlights Germany's strengths in AI and advanced technology while addressing the challenges of being an export economy in a changing global landscape. Their insights underscore the importance of innovation and sustainability in boosting competitiveness.

Christopher Waller, Federal Reserve Governor, shares his insights into the current labor market, asserting that the private sector is struggling more than perceived. He discusses the necessity of lowering borrowing costs before the job market worsens. Waller also dives into the complexities of monetary policy, inflation influenced by tariffs, and the importance of dissenting opinions in decision-making. Plus, he hints at his potential future role as Fed Chair, sparking curiosity about leadership in challenging economic times.

Paul Atkins, the US SEC Chairman, discusses the urgent need for clear regulations around cryptocurrencies following new stablecoin legislation. He emphasizes the SEC's commitment to fostering innovation while ensuring investor protection. The conversation also touches on transforming 401(k) plans to allow private assets and alternative investments, highlighting the importance of transparency in these ventures. Joined by Bloomberg's Jonathan Ferro, Lisa Abramowicz, and Annmarie Hordern, Atkins provides insights into the evolving landscape of digital finance.

Jim Chalmers, the Australian Treasurer, shares his insights on Australia significantly ramping up defense spending from 2% to 2.3% of GDP amidst global tensions. He warns against U.S. tariffs as 'economic self-harm' and emphasizes the need for multilateral cooperation through the G20 to tackle economic volatility. Chalmers discusses fostering resilient international partnerships and the importance of Australia’s pharmaceutical benefits in trade negotiations, advocating for economic resilience over retaliation in a shifting global landscape.

Mathias Cormann, Secretary General of the OECD, delves into the complexities of the global economy, highlighting its uncertainty shaped by inflation and policy challenges. He discusses the importance of cooperation among G7 countries to tackle pressing issues and ensure fair trade. Cormann also provides insights on the global minimum tax initiative, examining its evolution and the critical role of international collaboration. Tune in as he navigates the balancing act between competing global interests during major meetings like the G20 finance ministers' gathering.

Mary Daly, President of the Federal Reserve Bank of San Francisco, joins Bloomberg’s Michael McKee to unpack the current economic landscape. She shares her thoughts on upcoming rate cuts and the challenges of a labor market shaped by immigration policies and technological innovation. Daly emphasizes how generative AI can enhance productivity without displacing jobs, urging the workforce to adapt. They also dive into the complexities of interest rates, inflation, and the importance of strategic decision-making in maintaining economic stability.