It's game on at the posh Beverly Hilton today for the Yahoo Finance team as the 26th annual Milken Institute Global Conference gets underway.
That is where you will find yours truly, Rick Newman and Allie Garfinkle chatting up the likes of Michael Milken, Citi CEO Jane Fraser, Apollo CEO Marc Rowan and numerous other top leaders. We are there until Wednesday working the halls, and are excited to bring our unique reporting to life for investors from this very unique event.
This year’s Milken Institute Global Conference will be set against a busy backdrop of happenings for investors to keep in mind (even if the major indices are overlooking them all...).
There is the turmoil in the banking industry, which may end up in a bailout of troubled regional bank First Republic. Talk about zero political appetite for that one as the debt ceiling is shaping up to be another pre-presidential race debacle.
Rising interest rates (Fed decision is on May 3) will be top of mind at the conference, too, as the Fed is expected to raise rates by 25 basis points despite the banking troubles.
Meanwhile, the U.S. economy is slowing in part because of those rate hikes — Morgan Stanley economist Ellen Zentner is looking for a 0.4% decline in second quarter GDP, for example.
And then a U.S. presidential election looms in 2024 as we saw in the Twitter video drop from president Joe Biden last week. The ongoing war between Russia and Ukraine may just be endless, experts have told me recently.
All of this will be front and center for power brokers from inside governments around the world and Corporate America at the Milken conference. I can tell you as well there will be a ton of AI talk, which comes after a ton of AI talk last week from Microsoft, Google, Meta and Snap. I suspect Apple will chime in on AI when it reports earnings on May 4.
Our job there as Yahoo Finance journalists is rather straightforward: bring investors on our platform inside this world of big ideas and potentially market-moving insights. End goal: help our community growth their wealth.
We are pumped to get going over these next three days.