JPMorgan CEO Jamie Dimon, asked about fierce competition across the financial industry, said he's starting to see parallels to the era before the 2008 financial crisis, when a rush to make loans ended disastrously. He also spoke about navigating the era of AI in an investor event.
Paul Desmarais III, chairman, CEO and co-founder of Sagard, says AI is one of the firm's three strategic pillars. He tells Romaine Bostick and Kristine Aquino on "The Close" that AI represents a significant opportunity for industry.
Kenneth Kelly, chair of the American Bankers Association and chairman and CEO of First Independence Bank, says the banking system is a safe place for digital assets. He speaks with Romaine Bostick and Kristine Aquino on "The Close."
Drew Wilkerson, CEO of RXO, discusses the company's latest quarterly truckload forecast, highlighting an upswing in the trucking market following a period of deflationary pressure. He speaks with Romaine Bostick and Kristine Aquino on "The Close."
Aaron Ford, Nevada Attorney General, discusses the recent 6 3 Supreme Court of the United States ruling that struck down tariffs imposed during the Trump administration. He tells Romaine Bostick and Kristine Aquino on "The Close" that the decision was expected and legally justified.
EY-Parthenon Chief Economist Greg Daco joins Bloomberg Businessweek Daily to discuss the economic impacts of President Trump's tariffs being overturned by the Supreme Court. Daco says that while the US economy may currently show underlying strength, businesses will be more hesitant to invest and expand as tariff policy continues to evolve. Daco also mentions that inflation is back to being a big unknown as levies shift and legal challenges arise, and that GDP could once more be at risk thanks to Section 122 tariffs. Daco speaks with Carol Massar and Emily Graffeo.
Rick Woldenberg, CEO of Learning Resources and hand2mind, joins Bloomberg Businessweek Daily to weigh in on the Supreme Court striking down President Trump's tariffs, a win for the company that challenged the levies and became one of the plaintiffs in the case. Woldenberg says he wasn't expecting the decision before the State of the Union address, adding that his firm feels "validated" after the Supreme Court's decision. Woldenberg speaks with Carol Massar and Emily Graffeo.
President Donald Trump has already leaned on alternative legislation to try to rebuild his tariff wall, after the US Supreme Court ruled that he can't use a 1977 emergency law to impose import taxes. The court said that Trump exceeded his authority by invoking the International Emergency Economic Powers Act to justify his sweeping "reciprocal" duties targeting America's trading partners, as well as separate levies aimed at China, Canada and Mexico. The ruling invalidates a large portion of the tariffs that Trump has rolled out in his second term, but there are other ways that he can introduce import taxes. While the Constitution gives Congress the power to levy taxes and duties, lawmakers have delegated some authority to the executive branch through a number of statutes. Bloomberg Intelligence Senior Policy Analyst Nathan Dean joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Emily Graffeo.
Worry in the private credit market continued Monday after Blue Owl last week permanently closed one of its tech-focused funds preventing investors from withdrawing their cash every three months as they'd previously been allowed. The firm began selling assets to return investor capital. It's the latest sign of tumult in a $1.8 trillion market stricken with worry about overspending on artificial intelligence, the technology's disruptive power and lending standards more broadly. And it's evoking comparisons to the run-up to the 2008 financial crisis. Bloomberg News Senior Editor for Credit James Crombie joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Emily Graffeo.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Kristine Aquino, Carol Massar and Emily Graffeo.
