Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea here two days on from the election,
Speaker 2: we still don't have a House majority. Presumed Republican, but
Speaker 2: you know, presumed is a correct word. Lots of discussion
Speaker 2: of a sweep, lots of discussion a sea change, and
Speaker 2: of course for Democrats, a shock. What an honor of
Speaker 2: Christina Greer with this hugely controversial Fordham University. Thank you
Speaker 2: for the huge response to that conversation about the left.
Speaker 2: How the Democrats pick up the pieces? I thought she
Speaker 2: was good. She mentioned the gentleman from South Bend to
Speaker 2: Indiana is the person to watch. Pete booda judge who
Speaker 2: she felt is someone really to watch into the future
Speaker 2: for a fractured Democratic party. What do you do while
Speaker 2: you go to the best when you pick up the
Speaker 2: pieces off an election and look at the equity market,
Speaker 2: look at the American financial system. We do that with
Speaker 2: Abby Joseph Cohen of Columbia University.
Speaker 1: Let me put the marker out there, which is don't
Speaker 1: know because we don't yet know, for example, who the
Speaker 1: key members of the administration will be. We don't know
Speaker 1: who the Secretary of Treasury will be, for example, Nor
Speaker 1: do we have an idea of who some of the
Speaker 1: other members of the cabinet will be. The other thing
Speaker 1: that we're not sure about, of course, is what happens
Speaker 1: going forward with regard to regulatory policy. Now there is
Speaker 1: a presumption that less regulation is good for the economy.
Speaker 1: That's not always the case. Obviously regulation is not always perfect,
Speaker 1: but there are a number of areas in which looser
Speaker 1: regulation is in fact quite destabilizing and inflationary. So, for example,
Speaker 1: looser anti trust policy is typically associated with higher inflation,
Speaker 1: and that's something that we need to keep an eye on.
Speaker 1: The Other thing that we need to keep an eye
Speaker 1: on because members of the Trump Organization have been chatting
Speaker 1: about this, and when I say Trump Organization, I'm referring
Speaker 1: to the campaign, not the company. They've been talking about
Speaker 1: providing a very easy regulatory environment for crypto, and that's
Speaker 1: something that could in fact be problematic with regard to
Speaker 1: whether it creates a source of potential instability for the
Speaker 1: financial markets.
Speaker 2: She slipped that in Abby Joseph Cohen on Crypto we
Speaker 2: had a further conversation on that. She made very clear
Speaker 2: her reticence, her lack of certitude about the future of crypto.
Speaker 2: Very delicate comments there from Abbie Joseph Cohen of Columbia
Speaker 2: Business School, and again on the doge. I quoted the
Speaker 2: doze yesterday. I didn't even know the doge x DG.
Speaker 2: I think is a symbol on the Bloomberg and I
Speaker 2: got an email today time quote ethereum. I don't even
Speaker 2: know what that is, but there we are Crypto Abby
Speaker 2: Joseph Cohen on Crypto cryptic. Never Ed Mills of Raymond
Speaker 2: James on the election. He has a wonderful heritage in
Speaker 2: the family of American politics, and of course a study
Speaker 2: of Capitol Hill. We pick up the election pieces with
Speaker 2: Ed Mills, Raymond James.
Speaker 3: I think this is totally different. It's because it's going
Speaker 3: to be a much warmer relationship. You have to look
Speaker 3: at how much changeover there's been in the House, in
Speaker 3: in the Senate, especially on the Republican side, over the
Speaker 3: last eight years. When Donald Trump showed up in twenty seventeen,
Speaker 3: he had almost no congressional allies because he was such
Speaker 3: a shock to the system, especially here in Washington, DC.
Speaker 3: A lot of those folks like a Jim Jordan you mentioned,
Speaker 3: those are some of his closest allies in the Senate,
Speaker 3: Mitch McConnell, who had an extremely frosty relationship with Donald Trump.
Speaker 3: He's going to still be there, but no longer the leader.
Speaker 3: So I'm looking to see, is there someone who comes
Speaker 3: up and has a good relationship with Trump and so
Speaker 3: just a fundamental different way of doing this, a plan
Speaker 3: to enacting. So I think that early twenty twenty five
Speaker 3: and throughout twenty twenty five it's going to be a
Speaker 3: much more robust year policy wise than twenty seventeen wise,
Speaker 3: and buckle up because there's a lot of marketing fact there.
Speaker 2: That is one of the best insights I've seen on
Speaker 2: this election. Ed Mills at Raymond James there on the
Speaker 2: difference of Trump eight years on, very interesting, absolutely fascinating
Speaker 2: to see how this unfolds. We'll do that with our
Speaker 2: political leadership. David Gerra. There's been a sighting out of
Speaker 2: Philadelphia Romain Bostic of further sighting out of Detroit. I
Speaker 2: believe they're migrating back to New York. It'll be good
Speaker 2: to see them, and of course the political team, don't
Speaker 2: forget Joe Matthew and Kayley Lines. With balance of power,
Speaker 2: we're on to fed day, two pm this afternoon. The
Speaker 2: press conference will be delicate. We're out on YouTube. Subscribe
Speaker 2: to Bloomberg Podcast. Humbled by the growth here in the
Speaker 2: last ten days or so. Thank you for your subscribing,
Speaker 2: your friends subscribing to Bloomberg Podcast on Apple CarPlay, Android Auto,
Speaker 2: and of course on Apple podcasts and YouTube podcasts. This
Speaker 2: is single best idea.