When Big Tech Tells You 'It's Impossible', That's Latin for 'It's Less Profitable', Galloway Says

Bloomberg Surveillance

Bloomberg

Investing, Business News, News, Business

3.8 • 1.2K Ratings

🗓️ 1 November 2017

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Scott Galloway, a professor at NYU's Stern School of Business, says it's not a question of can Big Tech become too big, but can it become too powerful. Prior to that, Steven Wieting, Citi Private Bank's chief global investment strategist, says monetary policy won't be the driving force changing economic markets if Jay Powell becomes Fed Chair. Rick Mishkin, a professor at Columbia University's Business School, says Jay Powell would do a terrific job as Fed Chairman, but Janet Yellen would still be better. Finally, Austan Goolsbee, former chairman of the U.S. Council of Economic Advisors, says Congress isn't even remotely trying to get a 1986-style "comprehensive" tax reform.

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0:00.0	To me, context is about pattern recognition.
0:02.8	It's connecting the dots.
0:04.4	It's giving readers an ability to synthesize
0:07.6	a number of different perspectives
0:09.2	so they can understand how the greater whole works,
0:12.0	because nothing really occurs in isolation anymore.
0:14.4	I'm Tim O'Brien and I'm the senior executive editor at Bloomberg Opinion.
0:18.0	On our platform, we ask tough questions and solve complex problems with the facts in mind.
0:23.0	Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura.
0:44.7	Daily, we bring you insight from the best of economics,
0:47.8	finance, investment, and international relations.
0:50.8	Find Bloomberg Surveillance on Apple Podcasts, SoundCloud Bloomberg.com, and of course on the Bloomberg. Being with Steve Whiting today, he's the global chief strategist at City Private Bank and he's here in our
1:06.6	Bloomberg 11th year.
1:07.6	It feels like it's been an age, Steve, it's been a while, great to see once again.
1:10.4	Thank you.
1:11.4	Let me ask you first of all about tax reform. As we watch this
1:13.6	process unfold, I mentioned the delay, the one day at least delay that we've
1:17.2	gotten from the House Ways and Means Committee. How closely are you
1:19.5	watching this? How closely are markets watching? What's unfolding here? It's an incredibly tight timeline, a very narrow calendar,
1:25.2	very narrow window for lawmakers to get something done here
1:27.7	by the end of the calendar year.
1:28.9	Well, I'm watching it very closely.
	...

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