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The John Batchelor Show

Liz Peek confirms that Wall Street expects further interest rate cuts despite strong GDP growth and a stable job market. She stresses that Artificial Intelligence is seriously impacting corporate hiring plans, noting major employers like Walmart are prepa

The John Batchelor Show

John Batchelor

Books, Society & Culture, News, Arts

4.52.8K Ratings

🗓️ 1 October 2025

⏱️ 4 minutes

🧾️ Download transcript

Summary

Liz Peek confirms that Wall Street expects further interest rate cuts despite strong GDP growth and a stable job market. She stresses that Artificial Intelligence is seriously impacting corporate hiring plans, noting major employers like Walmart are preparing to flatten employment over "several years." Peek also points to the alarming lead of socialist, anti-Israel mayoral candidate Mamdani in New York City, whose inexperience creates a large question mark over the city's future.

1963 NYSE

Transcript

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0:00.0

I'm John Batchel with my colleague Elizabeth Peake. The New York election. There's been an event

0:08.2

these last days that may or may not be significant, but it is about the future. The mayor,

0:13.9

Eric Adams, a former police captain, has now stepped back from the field and will not be a candidate

0:19.3

on election day in early November.

0:21.7

This theoretically opens a lane for Andrew Cuomo, former governor, to pick up some support.

0:27.8

But overwhelmingly, the polls point to a young man out of the New York State legislature named Mamdani,

0:34.5

who has a habit of saying things that are strange.

0:40.1

And there's no reason to believe that he has the skills at this point to lead a city as demanding as New York. Therefore, Liz, the anxiety is

0:48.4

obvious and the momentum is clear for Mamdani. Based on what? On his age, do you have one way of describing to the country why he's popular for a large

0:59.0

percentage of the polling audience?

1:01.0

We have a couple of minutes.

1:02.0

Well, I think he's young and he's very articulate, and he is very anti-Israel, which is an

1:10.0

article of faith amongst young people right now, very pro-Palestinian.

1:14.0

He's a Muslim.

1:15.6

And he's also a socialist.

1:18.3

He makes really no bones about it.

1:20.1

He's embracing all kinds of policies like free buses, free child care, which are total pie in the sky promises to voters

1:29.3

and experienced young, inexperienced young voters don't know that he cannot possibly deliver on these things.

1:36.5

But his message is one of redistribution.

1:40.0

He has been, you know, he recently said, I don't believe there should be any billionaires.

1:44.1

He's very

1:45.2

anti-rich anti-capitalist uh and unfortunately we have a pretty big cadre of young people in

...

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