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Trumponomics, inflation, artificial intelligence, the changing media landscape, and the Elon Musk effect — these were the big themes covered at the annual event.
- Dec. 4, 2024, 8:09 p.m. ET
Serena Williams, Jerome H. Powell, Jeff Bezos and other leaders across business and technology discussed artificial intelligence, inflation, the media and what the world would look like under a second Donald J. Trump presidency.
Mr. Bezos, for one, thinks the president-elect has “a good chance of succeeding.”
Elon Musk wasn’t in the room, but he was present throughout at the DealBook Summit. The speakers were largely optimistic about his efforts in the new administration.
The event, hosted by Andrew Ross Sorkin, founder of DealBook, has taken place since 2011.
Here are five main themes:
Inflation is still an issue, but there’s a chance for growth.
Jerome H. Powell, the chair of the Federal Reserve, said the economy was in a “very good place.” Inflation has come down, and the labor market has rebounded. The big takeaway for investors: The central bank can afford to be more cautious when it considers lowering interest rates, Mr. Powell said. (The next Fed meeting will be Dec. 17-18.)
Ken Griffin, the billionaire founder of the hedge fund Citadel and a top donor to the Republican Party, placed the blame for inflation squarely on the Biden administration, which, he argued, “put this country on an inflationary path that was unprecedented in our lifetime.” Mr. Powell has “had to deal with cleaning up the mess,” he added.
Former President Bill Clinton said inflation was the “fundamental problem” that helped Mr. Trump return to the White House.
“The average person had not really lived through something like this for 40 years, since the ’70s,” Mr. Clinton said.
