What Treasury Secretary Scott Bessent said at the Milken event (and how his critics responded)

• In the present CEO daily: Diane Brady at Silken Instene Institute Conference in Los Angeles.
• The big story: Trump movie tax can have the opposite effect of one intended.
• The markets: Western markets are burdened, Asia markets are available.
• Analyst notes FROM Ey In Fed Independence, Jpmorgan Chase In the global GDP, Jpmorgan chases earnings, and Pantheon macroeconomics at work.
• Plus: All News and Watercooler Chat from wealth.

Good morning From the Silken Institute Conference in Los Angeles, an annual gathering of policies and leaders focusing on finance, philanthropy, and health. That the intersection makes for interesting juxtapositions, which university and Ag Leaders who feel the pain of Trump administrative policies that blend with investors at times with profit opportunities. Elon Musk Talking about the doge and the future of the people in a private meeting, a single attendee told me, not necessarily in that order. At my dinner last night, the speakers earned electricity power in political power.

Of course, tariffs remained high in mind. While Treasury Secretary Scott Bosstnt tells an audience trading, tax cut, and deregulation provokes US development, how and when that happens. (My colleague Jeff John Roberts has a Deeper analysis of Bessent’s words.) The bussent does not talk about tariffs specifically but mentioned lowering US debt to about 3% and growing US production

In the following panel, Citigrouup The CEO Jane Fraser noticed that bank clients will receive 10% tariff, versus 25%, and wait for certainty. The BCG Global Chaird Rich Rich is more advised to his clients to focus on price and productivity strategies: “AI’s progress, this is aiming with AI, it is important not to regret.”

Many of the investors I talk here is confident that it is a good time to make money. When it comes to credit investment opportunities, Victor Khosla’s strategic values ​​said, “We’re really busy last year and we’ve got a more fashionable one.”

John Koudounis, CEO of investment in Calamos, launched a capital protected bitcoin etf This year to capitalize the renewed interest in cryptocurrencies between Trump’s support. “We want to bring more people to the asset class,” he said. “If you look at the average mother and pop, they are afraid.”

Who will blame them? As fracture The CEO Greg Case placed this: “We continue to see the amount of cooperation, public and private. If it works, it’s amazing.”

Large news below.

Contact CEO Daily Via Diane Brady at Diane.by@fortune.com

This story originally shown Fortune.com

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