Bloomberg Talks

Nouriel Roubini dives into the transformative power of AI, projecting it will significantly boost US GDP by 2030. He highlights impressive productivity gains since the launch of ChatGPT, raising questions about a 'jobless' growth. Interestingly, he downplays tensions from geopolitical risks, assessing their minimal macro impact. Roubini also tackles AI valuations, the prospects of AGI, and the implications for corporate profits versus real wages, suggesting that firms are reaping most productivity benefits.

Sergio Ermotti, CEO of UBS Group, brings his insight into the shifting landscape of banking and Asian markets. He critiques proposed Swiss banking regulations as excessively strict, emphasizing the need for a competitive environment. Ermotti highlights renewed investor interest in China, discussing rising IPO activities and UBS's plans for growth. He also shares optimism about Japan's market potential and outlines UBS's commitment to talent development in the region. His views on supporting Chinese innovation and navigating new-economy investments are both timely and intriguing.

U.S. Senator Elizabeth Warren, a fierce advocate for financial regulation, discusses pivotal policies on affordability and credit card interest rates. She reveals a surprising call from President Trump after her speech, highlighting her push for bipartisan cooperation on economic issues. Warren emphasizes the need for Democrats to be vocal in their fight for lower costs and critiques economic policies leading to rising expenses. She also touches on the independence of the Federal Reserve and her willingness to pursue testimonies that could impact consumer protection.

Albert Bourla, the Chairman and CEO of Pfizer, shares insights on the company's innovative weight-loss drugs. He emphasizes their aim for superior results and discusses the promising MetSera acquisition, designed for enhanced weight loss with a unique dosing approach. Bourla also expresses satisfaction with Pfizer’s growth trajectory, forecasting impressive sales, while highlighting their commitment to reinvesting in crucial R&D areas like oncology and obesity. His thoughts on engaging with policymakers offer a glimpse into the interplay between business and government in the pharmaceutical sector.

Bill Pulte, Director of the Federal Housing Finance Agency, discusses pressing housing issues and the Fed's recent subpoenas without taking personal accountability. He emphasizes the importance of reducing mortgage rates to improve affordability, while advocating against institutional buyers that outbid everyday Americans. Pulte highlights ongoing strategies to boost homeownership and mentions potential actions like mortgage-backed securities purchases. He asserts that there's bipartisan momentum towards reforming housing policies, underscoring an urgent push from the White House.

Chris Wright, U.S. Secretary of Energy and former oil industry executive, explores the ambitious plan to rejuvenate Venezuela’s oil sector. He discusses a $100 billion investment strategy involving major oil companies eager to jump back in. Wright highlights Chevron's plans and expectations for a production surge in the coming years. He addresses security concerns, the absence of U.S. financial backing, and clarifies the importance of both oil and nuclear energy in meeting global demands.

Jaylen Brown, a four-time NBA All-Star with the Boston Celtics, discusses the need for player equity alongside owners in the league. He emphasizes the importance of using his platform for social change and community investment. From launching his sneaker brand to investing in minority startups through the Boston Exchange, Jaylen shares his entrepreneurial vision. He argues for fair compensation reflecting rising franchise valuations and proposes innovative ideas like a player-owned expansion team. His insights on NIL payments and financial literacy showcase his commitment to uplifting future athletes.

Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income, shares intriguing insights on the latest jobs report, highlighting job growth in healthcare. He discusses how AI and automation are reshaping corporate cost structures and driving profits. Rieder also analyzes labor market trends, emphasizing the importance of housing in wealth and job creation. He touches on demographics, student debt, and the implications of a potential Supreme Court ruling on financial strategies, while clarifying his lack of interest in the Fed Chair position.

Carl Weinberg, Chief Economist and Managing Director at High Frequency Economics, shares insights on supply chain disruptions, predicting they will be the biggest risk in 2026. He highlights the tight labor market's impact on GDP growth and warns that rising inflation could follow due to these constraints. Weinberg also emphasizes the severe threat posed by China’s dominance in critical materials, stressing that any disruption in supply chains would directly impact U.S. industrial capacity and growth.

Jonathan Miller, President and CEO of the real estate firm Miller Samuel, dives into the impact of institutional investors on the housing market. He clarifies that these entities own only about 1% of single-family homes, countering perceptions from the post-crisis era. Miller argues that banning institutional buyers won't solve affordability issues; instead, increasing housing supply and adjusting zoning laws are key. He also highlights regional disparities post-COVID, and discusses how rising mortgage rates are driving up home prices despite the market's constraints.