The Business Council U.S.

The ongoing demand for electricity will make oil production and exports a continued priority, says Enbridge CEO Gregory Ebel, who notes the impact of AI on energy needs. “We’ve had electricity demand largely flat for decades here in North America,” Ebel says. “Our view is that it will add somewhere between half a percent and 2%, which might not sound like much, but per annum through 2030, that’s a colossal move.” https://lnkd.in/eNVepTa2 #energy #oilandgas #artificialintelligence

Federal Reserve Chairman Jerome Powell’s speech on Friday was a definitive signal that the Fed will cut interest rates in September “without declaring victory completely,” says Roger W. Ferguson, Jr., vice chairman of The Business Council U.S. and chair emeritus of The Conference Board. Ferguson expects a series of 25-basis-point cuts given current unemployment levels. “While [Powell] doesn't want to see it worsen, I don't think he feels the necessity to move dramatically,” Ferguson adds. https://lnkd.in/e7FGhAKN #interestrates #inflation #economy

AI is a potentially world-changing opportunity, but it’s on governments to work with business to find the right balance of regulation, security and innovation, says Palo Alto Networks CEO Nikesh Arora in this interview with The Conference Board. https://lnkd.in/e3uwB3_F #ai #cybersecurity #artificialintelligence

JPMorganChase CEO Jamie Dimon calls himself an optimist who believes in American resiliency. And while there are negatives in American society that need to be addressed, it’s also worth considering what’s going well. “European GDP per person was very close to ours something like 20 years ago. It's now like 65 percent of ours,” he says. “So, when you compare us to the rest of the Western world, quite good. And we need to continue to do that. And I think we could continue to do that.” https://lnkd.in/eXq9MWb5 #economy #inequality #resiliency

The Federal Reserve is likely to cut rates in September, although caution remains in order due to still-high inflation, says Roger W. Ferguson, Jr., vice chairman of The Business Council U.S. and chair emeritus of The Conference Board. “I would describe the data that we’ve seen as ‘good,’ in that it validates the thought that inflation is coming down, but it’s not concerning” in terms of economic weakness, he says. https://lnkd.in/e9RWJSPe #interestrates #federalreserve #inflation

Ken Griffin has made Citadel into the world's most profitable hedge fund with an innovative multimanager approach and commitment to excellence. “We hire people who are winners in life,” Griffin said. “Winners in finance is often not enough.”    Citadel has regularly outperformed competitors with this approach, including during the early months of the pandemic. “It set up one of the greatest moments ever in the history of finance, getting to compete with people wearing their pajamas,” Griffin quipped. https://lnkd.in/eRsvZkiQ

The Federal Reserve should consider reducing interest rates soon, says Bank of America CEO Brian Moynihan, so that consumers and businesses don’t lose confidence. “Once the American consumer really starts going very negative, then it's hard to get them back,” he says. “And on the commercial side, the higher rate environment is slowing down commercial progress, so corporations aren't using their lines of credit.” https://lnkd.in/e9BkFuMk #interestrates #federalreserve #economy

Uncertainty continues to be the theme for consumers and businesses alike, even as a soft landing remains in play and the Federal Reserve looks to cut rates. "You could say where we are today versus two months ago, the economy seems to be a little bit more fragile," says CSX CEO Joe Hinrichs. "And we're optimistic that it can pick itself up, but we're watching it very carefully." https://lnkd.in/eUWQm95M #economy #recession #consumerspending

CEO confidence declined in Q3, although they remain moderately optimistic about the economy going forward, according to the latest The Conference Board survey in collaboration with The Business Council U.S.. “CEOs remained cautiously optimistic about the future but their views about the current economic situation weakened in Q3,” said Roger W. Ferguson, Jr., Vice Chairman of The Business Council and Chair Emeritus of The Conference Board. “Negative views about current economic conditions outweighed positive views of the economy, with more CEOs saying that conditions have worsened compared to six months ago than saying they improved.” https://lnkd.in/eskv7Tsw #economy #ceos #recession

The market for M&A and initial public offerings is getting stronger, says KKR co-CEO Scott Nuttall, who also believes private equity fundraising is due to improve. "This year, we not only have an open market, we have pent-up supply of deals that didn't get done in the last couple of years coming to market," he says. https://lnkd.in/eZut-k-5 #manda #privateequity #ipo