Top execs on Fed, inflation, economy: YF Invest biggest moments
Higher interest rates, inflation, and heightened geopolitical risk are among the topics at the forefront of investor's minds. CEOs, policymakers, and top analysts discussed these issues and more during Yahoo Finance's Invest summit. Catch up on all the highlights from the event here. IG North America CEO JJ Kinahan joined Yahoo Finance's Brian Sozzi and Seana Smith to kick off the event. Kinahan discussed the impact of higher interest rates and what it means for investors. He said, "If the Fed can keep this in an area where people can invest with conviction, longer term that's what's actually really good." Verizon (VZ) Chairman and CEO Hans Vestberg broke down the impact of rising interest rates on the economy. Vestberg explained, "We don't see it (an economic slowdown). And the reason is of course that not all that interest increase is going straight to consumers." Marriott International (MAR) CEO and President Anthony Capuano discussed the state of the hospitality industry amid an elevated interest rate environment. Capuano said, "Today the biggest impediment in the U.S. market and in Europe is the availability of debt for new construction." NYU Stern School of Business Professor Emeritus Nouriel Roubini provided his opinion on the economy and the chances of a recession in 2024. Roubini explained, "There are factors that could lead us to a short and shallow recession." Jeff Zucker, RedBird IMI CEO & Former CNN Worldwide President, discussed the current state of the media industry. Zucker said, "This is a difficult time in media. But the one thing that you know is that people are always going to want to watch great entertainment... so that is always going to be there, but the question is how?" Meredith Whitney, Founder & CEO of Meredith Whitney LLC, broke down the current economic headwinds the U.S. is facing, specifically as it relates to the housing industry. Whitney explained, "Americans are sitting on a tremendous amount of equity in their homes. It's a question of when they tap into it." AT&T (T) CEO John Stankey discussed the state of the U.S. economy, including geopolitical issues, inflation, and of course, higher interest rates. Stankey said, "It's fragile enough in the overall equation that one or two of those things break the wrong way, I think it could ultimately roll down to the consumer, roll down to jobs creation, and that wouldn't be good for anyone." DoubleLine Founder and CEO Jeffrey Gundlach does not believe the Fed will raise rates again, but he does believe the higher rates will could have a ripple effect on the economy. Gundlach explained, "The reason I'm worried about higher for longer ... the interest expense on the debt is exploding in a vertical fashion because all of those bonds that were issued back at 25-50 basis points interest rates... they're all rolling off. And they're rolling off with great speed." Video highlights: 00:00:06 - IG North America CEO JJ Kinahan 00:00:26 - Verizon (VZ) Chairman and CEO Hans Vestberg 00:00:36 - Marriott International (MAR) CEO and President Anthony Capuano 00:00:53 - NYU Stern School of Business Professor Emeritus Nouriel Roubini 00:01:06 - Jeff Zucker, RedBird IMI CEO & Former CNN Worldwide President 00:01:32 - Meredith Whitney, Founder & CEO of Meredith Whitney LLC 00:01:43 - AT&T (T) CEO John Stankey 00:02:20 - DoubleLine Founder and CEO Jeffrey Gundlach