Bloomberg Talks

Robert Steven Kaplan, Vice Chairman of Goldman Sachs and former Dallas Fed leader, shares insights on monetary policy and economic challenges. He delves into inflation trends and the K-shaped economy, illustrating how lower-income individuals are hit hard while higher-income earners benefit. Kaplan discusses the impact of political changes on GDP growth and emphasizes the need for Federal Reserve independence amidst pressures. He also highlights the disparity in financial success linked to education and the evolving landscape of corporate risk-taking.

Glenn Fogel, CEO of Booking Holdings, shares insights on the travel industry's recovery and future trends. He examines global leisure travel demand and how recent earnings impact the company. Fogel highlights the transformative role of AI in enhancing travel planning and customer service, addressing concerns about automation's effect on jobs. The conversation also touches on strategies for navigating inflation while maintaining consumer interest in travel.

Diego De Giorgi, CFO of Standard Chartered Bank, shares insights from the bank's strong fourth-quarter earnings, revealing a $1.5 billion return to shareholders. He discusses how rising interest rates positively impacted net interest margins and how banks can guide clients amid market volatility. The conversation also highlights the growing significance of global wealth management, particularly in emerging markets, and addresses the competitive landscape of banking talent and the need for performance-aligned compensation.

Join Nick Leeson, the former derivatives trader infamous for his role in Barings Bank's collapse, as he shares his journey from scandal to redemption. He discusses the potential risks of current financial deregulation, reflecting on how the banking landscape has evolved over the past three decades. Leeson dives into the psychological pressures he faced and the lessons learned about personal accountability. He also emphasizes the need for stronger risk management and the importance of seeking help in rebuilding one's reputation after significant fallouts.

Carvana's CEO reflects on a surprising fourth quarter, revealing strong earnings despite a drop in share prices. He navigates the complexities of the automotive retail market, addressing the impact of economic pressures and changing investor sentiments. The conversation emphasizes the importance of customer experience and the need for strategic adaptability amid market fluctuations. Insights into gross profit declines and the future focus on sustainability add depth to the discussion.

In this engaging discussion, Harvard Professor Jason Furman sheds light on the current economic uncertainties and the significant impact of tariffs on GDP. He navigates the delicate balance between globalization and protectionism, pointing out how these forces influence consumer spending and business investment. Furman also delves into the critical power dynamics within U.S. financial policymaking, highlighting the vital role of the Treasury Secretary and the Federal Reserve amidst political pressures. His insights leave listeners pondering the future of the economy.

Thomas Toepfer, the CFO of Airbus, dives into the company's supply chain challenges and ambitious goals for 2025 delivery targets. He shares insights on the persistent issues with component availability, particularly engines, and emphasizes the need for close collaboration with suppliers. The conversation also touches on the potential impact of U.S. trade tariffs and how they could affect the aerospace industry, alongside discussing growth opportunities within Airbus's European defense sector amid ongoing geopolitical tensions.

Scott Bessent, the 79th Treasury Secretary, shares insights on the challenges facing the U.S. debt market amid inflation and the Federal Reserve's tightening. He highlights the complexities of boosting longer-term Treasuries while emphasizing market demands. The conversation also dives into defense budget cuts and their implications for national security. Additionally, Bessent discusses international trade tensions, particularly with China, and the importance of collaborative solutions in navigating geopolitical challenges.

Kyriakos Mitsotakis, the Prime Minister of Greece, delves into the complexities of international politics, notably discussing Donald Trump’s comments on Ukrainian President Zelenskyy, stating Trump has a unique perspective. He emphasizes the need for Europe to unite on security matters, strengthening its defense strategies amidst rising tensions. Mitsotakis also advocates for joint fiscal measures in Europe to address defense spending and calls for a cohesive European voice in global affairs, underscoring the urgency of military collaboration and representation.

Mary Ng, Canada's Minister of Export Promotion and Trade, discusses the impact of President Trump's tariffs, emphasizing their detrimental effects on American consumers. She outlines Canada's commitment to retaliation if necessary and the ongoing collaboration with the U.S. to mitigate these challenges. Ng highlights the importance of maintaining strong economic ties despite tariffs, and she addresses Canada's efforts to diversify trade partnerships, particularly in the Indo-Pacific, while navigating the complex landscape of U.S. policies.