Bloomberg Talks

Jonathan Gray, President and COO of Blackstone, shares insights on the firm's impressive 48% increase in Q3 distributable earnings. He highlights a potential resurgence in deal-making driven by improving IPOs and M&A activity. Gray addresses concerns over tariffs and persistent inflation and underscores that recent challenges in private credit were mainly linked to banks. He argues that private credit remains a golden opportunity, enhanced by AI's ability to boost productivity across the firm.

Hakeem Jeffries, House Minority Leader and U.S. Representative from Brooklyn, is in the spotlight as he discusses the ongoing government shutdown and upcoming New York mayoral race. He praises Democratic nominee Zohran Mamdani for his pledge to retain Police Commissioner Jessica Tisch, suggesting it will reassure city residents. Jeffries also delves into the complexities of negotiations with Republicans and emphasizes the importance of addressing healthcare crises. He warns against the long-term impacts of proposed Republican budgets while advocating for unity and activism within the Democratic Party.

Eric Rosengren, the Former President of the Federal Reserve Bank of Boston and visiting scholar at MIT Golub Center, shares his insights on the upcoming US CPI report. He anticipates a 3.1% overall and core CPI, influenced by tariffs and rising food prices. Rosengren emphasizes the need for the Fed to closely monitor labor, food, and energy pressures. He discusses the implications of policy choices on inflation and cautions against cutting rates without solid labor data, while defending the CPI's reliability despite recent staffing cuts.

Håkan Samuelsson, CEO of Volvo Cars and automotive veteran, shares insights on the company's impressive Q3 profit surge fueled by a robust cost-saving program. He discusses the strategic shifts, including increased production at the Charleston plant amidst U.S. tariff concerns, and his proactive approach to navigating legal challenges regarding U.S. operations. Håkan also opens up about what keeps him awake at night, reflecting on the confidence in a company turnaround and the vigilance required to manage supply chain risks in a volatile market.

Senator Catherine Cortez Masto, a Democratic U.S. Senator from Nevada, delves into the complexities of the current government shutdown negotiations. She emphasizes the crucial role Donald Trump must play to break the deadlock, especially regarding ACA subsidies. Cortez Masto articulates the significant impacts of the shutdown on Nevada's nuclear sites and expresses frustration at the lack of leadership in Washington. She outlines clear priorities: reopening government, securing appropriations, and reinforcing health care protections.

In this conversation, Ron Johnson, a Republican U.S. Senator from Wisconsin, shares his insights on pressing national issues. He debates the timing of voting on secondary sanctions against Russia and critiques the ongoing government shutdown. Johnson advocates for the Shutdown Fairness Act to ensure federal employees get paid despite the standoff. He also presents his Eliminate Shutdowns Act proposal to prevent future disruptions. His commentary highlights frustrations with the current appropriations process and the need for effective governance.

Tye Brady, Chief Technologist at Amazon Robotics, shares insights on revolutionary robotics developments at Amazon. He discusses the BlueJ manipulation robot's impressive capabilities, which can manage over 75% of sortable inventory. Brady highlights how robots are reshaping the workforce, emphasizing job creation and enhanced safety rather than elimination. He delves into global robotics trends, notably in Japan and China, and advocates for practical applications over mere hype. Ultimately, he reinforces the idea that well-designed robotics can boost productivity and worker safety.

Jason Smith, Republican U.S. Representative from Missouri's 8th Congressional District and chairman of the House Ways and Means Committee, joins the hosts to discuss key issues surrounding government funding. He analyzes the dynamics of the Senate filibuster and the need for a longer-term continuing resolution. Smith also dives into the implications of extending Biden-era healthcare subsidies, highlighting necessary reforms. Additionally, he addresses the impact of halted soybean purchases from China on U.S. farmers and advocates for economic aid and better market access.

Jim Chanos, a veteran Wall Street investor and founder of Chanos & Company, shares insights on the precarious state of private credit markets. He highlights red flags in companies like Carvana and discusses the risks of inflated valuations in AI-driven sectors. Chanos warns that the current credit cycle shows extreme complacency, which could precede a market panic. He also critiques the Bitcoin market, specifically his short position against MicroStrategy, cautioning investors about its misleading premiums.

AT&T's CEO John Stankey dives into the company's earnings and growth strategy, focusing on acquiring customers in wireless and broadband. He discusses the modest impact of the iPhone 17 on sales and predicts a competitive holiday season for device sales. Stankey highlights AT&T's success in home internet through fiber and fixed wireless, while addressing concerns about rising churn and lower average revenue per user. His insights reveal a long-term strategy aimed at boosting consolidated service revenue despite current challenges.