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At the Milken Institute conference, a who’s who of finance and corporate America, there was a mix of emotions about financial markets and the economy.
May 8, 2025Updated 1:01 p.m. ET
Beneath the grand chandeliers of the International Ballroom at the Beverly Hilton Hotel, at rooftop bars and at private parties at billionaires’ mansions, there was a mix of emotions among the financial titans gathered in Los Angeles this week.
Many of the thousands of attendees at the Milken Institute Global Conference — a who's who of finance and corporate America — remained anxious amid volatile markets, continuing trade tensions and deep cuts to the federal government.
“I’m a C.E.O., I talk to a lot of C.E.O.s, and there is nervousness there,” Kamal Bhatia, president and chief executive of Principal Asset Management, said while he sat on the same stage that hosts the Golden Globes.
But there was also a palpable sense of growing optimism after a rocky three-month start to President Trump’s second term: “I’m optimistic about technology, I’m optimistic about the direction of the economy, I’m optimistic about cutting costs,” said Tony Minella, co-founder and president of Eldridge Industries, an asset management firm. “I think there is a lot of excitement in the world right now, and it’s a fantastic time to live.”
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The mood at the annual West Coast confab echoed the mood in financial markets.
After Mr. Trump’s unexpectedly high tariffs sent stocks tumbling, there has been some relief from the initial panic as the administration has offered concessions and promoted deal talks that it says will lower tariffs.
