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CHARLES W. ELIOT UNIVERSITY PROFESSOR LAWRENCE H. SUMMERS

Published Date Apr 02, 2020

Yahoo News: US$2 trillion package a ‘good start’ but economic recovery relies on coronavirus containment, US economist says

“Success in controlling growth [of] the disease and, ultimately, putting it behind us is going to be the single most important determinant of the economic consequences of the Covid episode,” said Larry Summers, former US Treasury secretary, at a virtual event hosted by the Economic Club of New York.

Summers applauded the efforts by the Federal Reserve, Congress and the executive branch to pass legislation to stabilise the economy.

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By Verfied Strategy

CHARLES W. ELIOT UNIVERSITY PROFESSOR LAWRENCE H. SUMMERS

Published Date Apr 02, 2020

Baron's: Dow Futures Are Up as Gains for Oil Lift Energy Stocks

What happens here is ultimately going to be determined by the disease and the success in containing the spread of the disease,” former Treasury Secretary Larry Summers said at an Economic Club of New York video meeting on Wednesday. “No matter how voluminous the fiscal policy if people cannot leave their houses...there is going to be a very substantial limit on what the [economic output] can be.”

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By Verfied Strategy

Lawrence H. Summers and R. Glenn Hubbard

Published Date Apr 01, 2020

ECNY: hosting virtual event

Two of America's leading economists, Lawrence H. Summers and R. Glenn Hubbard, speaking on the economic implications of the COVID19 virus.

By Club Admin

lawrence summers 2020 glenn hubbard

New York Stock Exchange President Stacey Cunningham

Published Date Mar 26, 2020

ECNY: hosting virtual event

Special conference call with NYSE President Stacey Cunningham. Discussing recent market events in light of the COVID-19 health crisis. With Moderator Marie-Josée Kravis, Chair of The Economic Club of New York and Senior Fellow, The Hudson Institute

By Club Admin

2020 scott gottlieb

NEW YORK STOCK EXCHANGE PRESIDENT STACEY CUNNINGHAM

Published Date Mar 26, 2020

Yahoo Finance: Markets will stay open despite 'unprecedented anxiety' over coronavirus

"All of the conversation that I have had with other exchanges, with our regulators, with our government. No one is suggesting that they’re even considering closing the markets,” said Stacey Cunningham during a conference call on Thursday hosted by the Economic Club of New York."

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By Verfied Strategy

Citadel FOUNDER AND CEO KENNETH C. GRIFFIN

Published Date Mar 24, 2020

CNBC: Citadel turns 2020 profit after spotting virus risk early

On Feb. 6, Griffin called the coronavirus “probably the most concrete short-run risk we see in the financial markets globally” during an appearance at The Economic Club of New York.

"It’s not a Chinese health crisis. It is a global health crisis,” he said.

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By Verfied Strategy

Online Event with Dr. Scott Gottlieb

Published Date Mar 19, 2020

ECNY: Hosting Conference Call

An interview of Dr. Scott Gottlieb, Resident Fellow at American Enterprise Institute and 23rd Commissioner of the Food and Drug Administration, by Becky Quick, Squawk Box Co-Anchor, CNBC

By Club Admin

2020 scott gottlieb becky quick

Maverick Capital Managing Partner Lee S. Ainslie III

Published Date Feb 04, 2020

Bloomberg Quint: Maverick Capital’s Ainslie Calls Out ‘Generation of Greed’

Hedge fund industry titan Lee Ainslie said this may go down as “the generation of greed.”

“We’re operating with a 5% budget deficit, with a robust economy and full employment,” the head of Maverick Capital said at the Economic Club of New York on Monday. “We’re already $70,000 per man, woman and child in debt and growing that by $3,000 to $4,000 a year -- and what we’ve done to the environment.”

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By Verfied Strategy

Federal Reserve Bank of Dallas President and CEO Robert Kaplan

Published Date Jan 15, 2020

WSJ: Fed’s Kaplan Warns Central Bank Actions Are Driving Up Risk Taking

Federal Reserve Bank of Dallas leader Robert Kaplan said Wednesday central bank actions, most notably its injections of liquidity into financial markets, are boosting investors’ risk taking, adding he would like to find a way soon to pare back the expansion of the Fed’s balance sheet.

“Many market participants believe that growth in the Fed balance sheet is supportive of higher valuations and risk assets,” Mr. Kaplan told reporters after an appearance at the Economic Club of New York. When it comes to worries Fed actions are driving up stocks, he said “I’m sympathetic to that concern” and added “I think it’s wise to acknowledge it and be cognizant of that concern as we think about our next actions.”

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Uber CEO Dara Khosrowshahi

Published Date Dec 10, 2019

CNBC: Uber CEO: This is the subject young people should study in college, no matter their career goals

Uber CEO Dara Khosrowshahi has a recommendation for graduating high school seniors on what to study in college.

“Go study CIS [computer information systems] and engineering,” Khosrowshahi, 50, said at the Economic Club in New York City on Wednesday.

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By Verfied Strategy

Cigna President and CEO David Cordani

Published Date Nov 20, 2019

Bloomberg: Cigna CEO Says Health Insurer Is Open to More Acquisitions

Cigna Corp. is open to making more acquisitions, Chief Executive Officer David Cordani said, almost a year after the health insurer bought drug-benefit manager Express Scripts.

An expected $8 billion in free cash flow in 2020 should give Cigna “strategic optionality,” Cordani said in an interview with Bloomberg TV’s David Westin at the Economic Club of New York on Wednesday.

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By Verfied Strategy

Walt Disney Chairman and CEO Robert A. Iger

Published Date Nov 12, 2019

Yahoo! Finance: Bob Iger on why Disney+ is key to the 'mass migration' away from TV

During a late October interview with Diane Sawyer at the Economic Club of New York, Iger highlighted the “mass migration” and “steady march” away from traditional, linear television toward on-demand and digital platforms available on any device.

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By Verfied Strategy

Ripple CEO Brad Garlinghouse

Published Date Oct 08, 2019

FXStreet.com: Brad Garlinghouse: Ripple is Solving a $20 Trillion Problem

While speaking at The Economic Club of New York in Manhattan, Ripple CEO Brad Garlinghouse spoke out against Swift and called Ripple a better alternative. Garlinghouse stated that banks don’t like Swift and felt that Ripple is solving a real problem at scale.

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By Verfied Strategy

Banco Santander Executive Chairman Ana Botin

Published Date Oct 07, 2019

FOX BUSINESS: Santander Executive Chairman: Not selling US business

During a wide-ranging exclusive interview with Maria Bartiromo, Banco Santander Executive Chairman Ana Botin said the financial services company isn't selling its U.S. subsidiary. (VIDEO)

Watch

By Verfied Strategy

Boeing Chairman, President, and CEO Dennis Muilenburg

Published Date Oct 02, 2019

Yahoo! Finance: Boeing CEO: 'We are working with regulators on safety' (video)

Boeing CEO Dennis Muilenburg delivered remarks at Economic Club of New York on the airline industry and Boeing. Yahoo Finance's Adam Shapiro, Julie Hyman, Emily McCormick and Bethany McLean, Vanity Fair Contributing Editor and Making a Killing Host, discussed.

Aviation Today: Boeing CEO Targets Fourth Quarter 737 MAX Return to Service

While the ultimate decision on when the grounded fleet of 737 MAX aircraft can return to service relies on the approval of individual civil aviation regulators, during a speech at the Economic Club of New York Wednesday Oct. 2, Boeing CEO Dennis Muilenburg said the company is expecting the grounding to be lifted in the fourth quarter of 2019.

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By Verfied Strategy

Blackstone Chairman, CEO, and Co-Founder Stephen Schwarzman

Published Date Sep 18, 2019

Bloomberg: Schwarzman Says WeWork Valuation Puzzling

Steve Schwarzman said he was puzzled by the high valuation of WeWork, comparing it to a similar company that Blackstone Group Inc. owned that was “worth a few billion dollars.”

Hearing about WeWork’s pre-initial public offering value, Schwarzman said: “I sort of went, what? How do you get this? It doesn’t seem right to me given what they’re doing,” adding that he hasn’t studied WeWork. He didn’t name the company Blackstone owned.

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SEC Chairman Jay Clayton

Published Date Sep 09, 2019

CNBC: Regular Investors Are Cut out of a Major Financial Market and the SEC Chief Wants to Change That

The head of the SEC says more needs to be done to make it easier for companies to go public and that his office is taking a “fresh look” at allowing Main Street investors access to the private capital markets.

In a speech to the Economic Club of New York on Monday, SEC Chairman Jay Clayton said the lack of more IPOs and the inability of most of the Main Street investing public to access private markets was a “growing concern.”

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Bloomberg Law: Corporate Debt Surge Being Watched by Regulators, SEC Chief Says

The head of the U.S. Securities and Exchange Commission said his agency and other regulators are keeping taps on emerging risks in the fast-growing corporate debt market, highlighting assets that could he susceptible to liquidity shocks.

Years of low-interest rates and pressure on banks to hold less corporate debt has pushed more of it into investment funds, SEC Chairman Jay Clayton said in prepared remarks at the Economic Club of New York on Sept. 9. The trend isn’t surprising, he said, but the shift away from the regulated banking system has made it more difficult for government watchdogs to monitor...

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ThinkAdvisor: SEC's Clayton Still Troubled by Potential Manipulation of Bitcoin Prices

Don’t hold your breath for the Securities and Exchange Commission to approve a Bitcoin ETF, or any other cryptocurrency ETF, anytime soon. SEC Chairman Jay Clayton said as much at an appearance Monday before the Economic Club of New York.

In the brief Q&A session that followed a speech, Clayton said, “When you put it [Bitcoin] into a product and make it a security, then we have to worry about whether it trades appropriately or not and whether it can be held appropriately or not. … It troubles me that people look at the trading on these venues and think it has the same level of protection that you have in the equity market in the U.S., on Nasdaq and NYSE. Nothing could be further than the truth.”

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By Verfied Strategy

World Bank President David Malpass

Published Date Jun 24, 2019

Yahoo! Finance: World Bank President David Malpass: U.S., China Continue to Grow as Europe Slows

(Video) World Bank President David Malpass weighs in on global slowdown concerns during his conversation at The Economic Club of New York. Yahoo Finance's Zack Guzman & Brian Cheung discuss.

By Verfied Strategy

Bank of America Chairman and CEO Brian Moynihan

Published Date Jun 04, 2019

LA Times: Bank of America Warns of Possible ‘Carnage’ Linked to Leveraged Loans

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America Corp. Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade. Problems aren’t yet emerging as the economic expansion continues and companies churn out profits, Moynihan said Tuesday at the Economic Club of New York. His own bank has repeatedly said it focuses on “responsible growth” and sticks to lending standards it has had for years. But leveraged finance threatens to become an issue in the broader market, he said.

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Axios: America's Top Leveraged Loan Banker is Worried About Corporate Debt

Brian Moynihan, America's top leveraged loans banker, is joining the concern chorus over high levels of corporate debt. Why it matters: Moynihan is CEO of Bank of America Merrill Lynch, regularly the country's top book-runner and lead arranger for leveraged loans, with 2018 market share of 10.8% and 9.8%, respectively. In fact, it's led those categories since Moynihan took the reigns in 2010. Yesterday he told the Economic Club of New York that increases in leveraged lending, particularly at riskier terms, threatens to undermine the broader markets

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Bloomberg: BofA, Longtime Leader in Leveraged Loans, Warns of `Carnage'

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America Corp.’sChief Executive Officer Brian Moynihan: leveraged loans -- a business the bank has dominated for a decade. Problems aren’t yet emerging as the economic expansion continues and companies churn out profits, Moynihan said Tuesday at the Economic Club of New York. His own bank has repeatedly said it focuses on “responsible growth” and sticks to lending standards it’s had for years. Yet, leveraged finance threatens to become an issue in the broader market, he said.

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By Verfied Strategy

Investor Stanley Druckenmiller

Published Date Jun 03, 2019

MarketWatch: Why a Cautious Stanley Druckenmiller Piled into Treasurys and Chinese Tech

Onto our call of the day from billionaire investor Stanley Druckenmiller, who is also pretty convinced the Fed is going to cut rates, maybe even to zero. The famed manager says he has been buying Treasury bonds, and seems to be preaching caution to equity investors amid trade-war threats. “When the Trump tweet went out, I went from 93% invested to net flat and bought a bunch of Treasurys,” Druckenmiller told Scott Bessent, founder and chief investment officer of Key Square Capital Management at the Economic Club of New York.
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Business Insider: Legendary Investor Stanley Druckenmiller Made a Blockbuster Trade by Dumping his Stocks and Going All In on Treasurys...

Stanley Druckenmiller says he put the brakes on his stock-market exposure following President Donald Trump's May 5 tweet raising the stakes in the trade war with China. In a Monday interview, conducted by Scott Bessent of Key Square Capital Management at The Economic Club of New York, the billionaire investor said he reduced his equity exposure to zero and went all in on US Treasurys following Trump's threat to raise tariffs on Chinese goods.

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CNBC: Stanley Druckenmiller Sold Everything and Bought Treasurys After Trump’s Tweet Threatening China

Stanley Druckenmiller, a billionaire hedge fund manager with a long track record of beating the market, said Monday that he sold nearly all of his investments and piled into Treasurys after President Donald Trump’s May tweet that escalated the U.S.-China trade dispute... Druckenmiller, who was interviewed by Key Square Capital Management founder Scott Bessent at The Economic Club of New York, said he’s concerned that Trump’s aggressive trade policies may have damaged the U.S. economy and believes that the president will be beat by Democratic opponents in 2020.

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By Verfied Strategy

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