Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the.
Speaker 2: Single best idea really interesting post FED show picking up
Speaker 2: the pieces off that. Thanks to Lisa Bramwitz for driving
Speaker 2: the conversation yesterday afternoon. Some great conversations centered around selective
Speaker 2: bombshells from Chairman Paul. We'll get to that in a moment.
Speaker 2: Robert Kaplan in lovely to see him in the studio.
Speaker 2: He is with Goldman Sachs as vice chairman, the former
Speaker 2: president of the Dallas FED and all of his teaching
Speaker 2: at HBS years ago. Robert Kaplan really interesting on monopsy
Speaker 2: on the great American roll up, not the large cap,
Speaker 2: not the mid cap, small cap. Here's Robert Kaplan on
Speaker 2: the in between.
Speaker 3: Lots of still small emerging businesses powered by AI that
Speaker 3: can grow and will be very attractive, and they'll get
Speaker 3: to a point where they kind of stabilize. You'll have
Speaker 3: lots of very big, huge scale companies that are dominant,
Speaker 3: and you're gonna have a lot in between. And I
Speaker 3: guess we'd say it in between has gotten a lot bigger.
Speaker 3: And the last companies that used to think they were
Speaker 3: big and dominant and still aren't or less dominant.
Speaker 2: I looked at Procter and Gamble carefully said, I don't
Speaker 2: want you to come in on individual security. But what
Speaker 2: does old industry do in their in between?
Speaker 3: This build size and scale and make more investment in efficiency, productivity,
Speaker 3: technology and so all that costs money and in the
Speaker 3: short run reduces margins. And that's why you also see
Speaker 3: a lot of bell tightening right now right now to
Speaker 3: offset some of the margin impact.
Speaker 2: Robert Kaplan with Goldman sex really interesting there. I can't
Speaker 2: say enough about the bet the traditional non technology, non
Speaker 2: AI economies and companies will look to productivity as the
Speaker 2: path forward. Certainly that was a surprise at the FED
Speaker 2: meeting yes today, Austin Gouldsby with that descent I thought
Speaker 2: was fascinating a bit of the way through the press conference,
Speaker 2: the chairman with a bombshell taking non farm payrolls and
Speaker 2: marking them down as revisions are made. Who did I
Speaker 2: think of Anna Wong at Bloomberg Economics. She has been
Speaker 2: path breaking in America on adjusting unemployment to a more
Speaker 2: negative outcome. Here is doctor Wong on the labor economy.
Speaker 4: Powell mentioned that the three month rolling average is currently
Speaker 4: about forty thousand, so if they're six sixty thousand over
Speaker 4: statement that you negative twenty thousand and net's I think
Speaker 4: that's the number. But on a month to month basis,
Speaker 4: there of course a lot of fluctuations. For example, last
Speaker 4: month we saw one hundred nineteen thousand, right, and next
Speaker 4: week we are going to have a double payrollsport or
Speaker 4: this this this is highly unusual.
Speaker 2: Right, A lot of economic data next week that will
Speaker 2: get us through December. On podcasts or on Apple, We're
Speaker 2: on Spotify, on YouTube podcasts. It's single best idea