At the annual DealBook Summit, hosted by New York Times journalist Andrew Ross Sorkin, business titans, policymakers, and thought leaders gathered to discuss pressing global issues such as artificial intelligence, inflation, and the implications of Donald J. Trump’s second presidency.
Notable attendees included Jeff Bezos, Jerome Powell, Prince Harry, and Serena Williams, with discussions covering a wide array of topics from economic policy to media accountability.
Federal Reserve Chair Jerome Powell provided an optimistic economic assessment, noting that inflation has moderated since mid-2023 and that the labor market remains resilient. He emphasized that the Fed will take a cautious approach to future rate cuts, signaling a potential quarter-point reduction at the upcoming December meeting. Billionaire hedge fund manager Ken Griffin, however, criticized the previous administration’s policies for fueling inflation and praised Powell’s efforts to manage the aftermath. Former President Bill Clinton highlighted the centrality of inflation in shaping the political landscape, suggesting it played a pivotal role in Trump’s electoral success.
Many speakers expressed a blend of optimism and caution regarding the incoming Trump administration. Jeff Bezos, who previously had a tense relationship with Trump, struck a notably conciliatory tone. He praised Trump’s regulatory focus, describing him as “calmer” and “more settled” than during his first term. Federal Reserve independence was a key topic, with Powell firmly asserting the Fed’s autonomy despite speculation about potential political interference.
The summit also delved into media dynamics in a rapidly evolving information environment. Prince Harry spoke candidly about his legal battles with British tabloids, underscoring the need for journalistic accountability to preserve public trust. Jeff Bezos, owner of The Washington Post, defended his decision to withhold an endorsement of Vice President Kamala Harris, emphasizing the importance of aggressive journalism regardless of political pressures.
AI innovation was another major theme, with OpenAI CEO Sam Altman forecasting the advent of artificial general intelligence (AGI) sooner than anticipated, potentially accelerating economic growth. Google CEO Sundar Pichai projected that 2025 would be a pivotal year for AI, signaling potential shifts in the company’s approach to generative AI and search technology.
Though absent from the summit, Elon Musk was a recurring topic. Panelists including Bezos and Altman acknowledged Musk’s growing political influence and entrepreneurial impact. Bezos expressed confidence that Musk would not leverage his ties to the Trump administration for personal gain, highlighting Musk’s commitment to efficiency in government projects.
The New York Times and the Wall Street Journal contributed to this report.
