During a fireside chat at The Economic Club of New York Thursday evening, Gates argued that we need to stay ahead of people with ill intent, such as those who are trying to utilize the technology for cyber crimes, bioterrorism and even physical weapons.

"You'd like to have the good guy defense . . . stay ahead of the bad guy offense," he said.

READ MORE: Bill Gates on AI: We have to stay ahead of the bad guys

Bill Gates said he considers himself a more relaxed boss than many of his tech compatriots at the top.

The Microsoft founder name-checked Elon Musk and Steve Jobs during a fireside chat on Thursday after being awarded the Peter G. Peterson Leadership Excellence Award by the Economic Club of New York.

The talk's moderator asked Gates about the lessons he learned in creating a culture of innovation during his time at the helm of Microsoft.

READ MORE: Bill Gates thinks of himself as 'very nice' compared to Elon Musk and Steve Jobs

ECNY: LEADERSHIP EXCELLENCE AWARD DINNER

Bill Gates will be recognized as the recipient of the 2023 Peter G. Peterson Leadership Excellence Award at a special Year End dinner.

The Award for Leadership Excellence was originally inaugurated in 2011 through a generous personal gift from the late Peter G. Peterson, former Chair and long-time Member of the Economic Club of New York. In 2021, the award was re-named to pay homage to its creator.

Past honorees include George P. Shultz, Paul Volcker, Alice Rivlin, Alan Greenspan, Henry Kissinger, Roger W. Ferguson and Stanley Fischer.

Award recipient Bill Gates will address members at the event with moderator Marie-Josée Kravis.

“My great concern is that you’re going to have fewer people advancing on a traditional investment banking career and on some of the more support areas,” the Apollo partner said at an Economic Club of New York event.

READ MORE: Financial Services Roundup: Market Talk

ECNY: Video Webinar

Diversity, Equity & Inclusion Series: Join us as we welcome Bill Lewis, Partner at Apollo Global Management, Inc.

TOPIC: Reflection on Bill's 45-year Wall Street career and efforts to broaden inclusion across the financial industry.

ECNY: Signature Luncheon

We are honored to welcome Ray Kelly, (CEO of Guardian Group and 37th and 41st New York City Police Commissioner,) to the club for a discussion on the future of New York, the threats we face at home and abroad, the rise of antisemitism and more.

ECNY: Signature Luncheon

General Petraeus is a Partner at KKR and Chair of the KKR Global Institute, and a Kissinger Fellow at Yale's Jackson School. His distinguished career, has significantly influenced the course of modern history – and included Command of the Surge in Iraq, US Central Command, and NATO/US Forces in Afghanistan, service as Director of the CIA, and numerous academic appointments.

In his latest work, Conflict: The Evolution Of Warfare From 1945 To Ukraine, General Petraeus and Andrew Roberts offer a comprehensive and incisive analysis of the shifting landscape of modern conflict.

Drawing on General Petraeus' experience in the military and intelligence arena, and his current role in the world of investing, he will provide his perspective on how geopolitical dynamics have evolved over the past seven decades, culminating in the ongoing crisis in Ukraine. He will also address the ongoing war between Israel and Hamas.

ECNY: Signature Luncheon

Join us as Superintendent of the New York State Department of Financial Services Adrienne Harris shares insights on navigating financial regulations in a dynamic economy, the cross-section of innovation and finance and resilience through a financial crisis.

Just last month at an event at the Economic Club of New York, Powell certainly didn’t sound convinced about the argument that inflation was under control: “A few months of good data are only the beginning of what it will take,” he said.

READ MORE: Stocks are soaring as Wall Street celebrates a cooler-than-expected inflation report that could signal the end of the Fed's rate hikes: ‘The immaculate disinflation continues’

The market's response to Powell's remarks was notably optimistic on Thursday, as investors interpreted his comments from The Economic Club of New York in October, which were echoed at the IMF, to mean that the current policy stance isn't overly restrictive and that the economy is performing well.

READ MORE: Fed Chair Powell signals prolonged monetary policy to tackle inflation

“I don’t experience my colleagues, for example, within the university as antisemitic, but I recognize that many of the activities that are happening right now would lead to that impression,” James said at an event organized by the Economic Club of New York.

READ MORE: Wharton Dean Sees Need to Fix UPenn Donor Backlash in Antisemitism Turmoil - BNN Bloomberg

“I don’t experience my colleagues, for example, within the university as antisemitic, but I recognize that many of the activities that are happening right now would lead to that impression,” James said at an event organized by the Economic Club of New York.

READ MORE: UPenn Wharton Dean Erika James Sees Need to Fix Donor Backlash Over Antisemitism

ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Erika H. James, Dean of The Wharton School of the University of Pennsylvania. In conversation with Club Chair John C. Williams, Erika will share her insight on trends in global business, leadership in times of uncertainty and business education skills for the future workforce.

ECNY: Video Webinar

The Economic Club of New York is honored to welcome Glenn Hubbard, Sander Gerber and Anurag Pandit for a virtual panel.

The panel will discuss the legacy of the late Dr. Harry Markowitz, Nobel Prize winning economist, particularly how his Modern Portfolio Theory impacted investment strategies worldwide and how his innovative insights continue to shape the way investors approach financial decision-making.

Powell said in remarks in front of the Economic Club of New York on Oct. 20 that he believed some of the impact of the Fed’s 11 previous interest-rate hikes likely has yet to be felt.

“Given the fast pace of the tightening," he said, "there may still be meaningful tightening in the pipeline."

READ MORE: Jerome Powell Keeps Door Open for More Increases if Needed

ECNY: Video Webinar

Author Series

Join us as we welcome Author and Special Advisor to CDP Paula DiPerna for a discussion on her new book Pricing the Priceless: The Financial Transformation to Value the Planet, Solve the Climate Crisis, and Protect Our Most Precious Assets.

Jerome Powell's press conference may echo themes from an Oct. 19 speech to the Economic Club of New York, where he said additional hikes would depend on the data, outlook and balance of risks.


READ MORE: Fed’s ‘Hawkish Pause’ to Keep Future Interest-Rate Hike on Table

In remarks before the Economic Club of New York earlier this month, Fed Chair Jerome H. Powell said demand is being driven, in large part, by a strong labor market, as wages outpace inflation and people have more money to spend.

READ MORE: Federal Reserve meeting: strong economy, probably no rate hike

Powell, the chairman of the Federal Reserve, noted in a talk at the Economic Club in New York, while the Fed sets short-term rates, the bond market determines a vast array of longer-term rates, which have appreciably tightened financial conditions in the United States.

READ MORE: The Bond Market, a Sleeping Giant, Awakes
 

He suggested at an event at the Economic Club of New York that the U.S. central bank is inclined to hold interest rates steady at its next meeting, while leaving open the possibility of another hike later if policymakers see further signs of resilient economic growth.

READ MORE: ‘World’s safest asset’ proves anything but amid wild Treasuries