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Single best idea here two days on from the election, we still don't have a House majority. Presumed Republican, but you know, presumed is a correct word. Lots of discussion of a sweep, lots of discussion a sea change, and of course for Democrats, a shock. What an honor of Christina Greer with this hugely controversial Fordham University. Thank you for the huge response to that conversation about the left. How the Democrats pick up the pieces? I thought she
was good. She mentioned the gentleman from South Bend to Indiana is the person to watch. Pete booda judge who she felt is someone really to watch into the future for a fractured Democratic party. What do you do while you go to the best when you pick up the pieces off an election and look at the equity market, look at the American financial system. We do that with Abby Joseph Cohen of Columbia University.
Let me put the marker out there, which is don't know because we don't yet know, for example, who the key members of the administration will be. We don't know who the Secretary of Treasury will be, for example, Nor do we have an idea of who some of the other members of the cabinet will be. The other thing that we're not sure about, of course, is what happens going forward with regard to regulatory policy. Now there is a presumption that less regulation is good for the economy.
That's not always the case. Obviously regulation is not always perfect, but there are a number of areas in which looser regulation is in fact quite destabilizing and inflationary. So, for example, looser anti trust policy is typically associated with higher inflation, and that's something that we need to keep an eye on. The Other thing that we need to keep an eye on because members of the Trump Organization have been chatting about this, and when I say Trump Organization, I'm referring
to the campaign, not the company. They've been talking about providing a very easy regulatory environment for crypto, and that's something that could in fact be problematic with regard to whether it creates a source of potential instability for the financial markets.
She slipped that in Abby Joseph Cohen on Crypto we had a further conversation on that. She made very clear her reticence, her lack of certitude about the future of crypto. Very delicate comments there from Abbie Joseph Cohen of Columbia Business School, and again on the doge. I quoted the doze yesterday. I didn't even know the doge x DG. I think is a symbol on the Bloomberg and I got an email today time quote ethereum. I don't even know what that is, but there we are Crypto Abby
Joseph Cohen on Crypto cryptic. Never Ed Mills of Raymond James on the election. He has a wonderful heritage in the family of American politics, and of course a study of Capitol Hill. We pick up the election pieces with Ed Mills, Raymond James.
I think this is totally different. It's because it's going to be a much warmer relationship. You have to look at how much changeover there's been in the House, in in the Senate, especially on the Republican side, over the last eight years. When Donald Trump showed up in twenty seventeen, he had almost no congressional allies because he was such a shock to the system, especially here in Washington, DC.
A lot of those folks like a Jim Jordan you mentioned, those are some of his closest allies in the Senate, Mitch McConnell, who had an extremely frosty relationship with Donald Trump. He's going to still be there, but no longer the leader. So I'm looking to see, is there someone who comes up and has a good relationship with Trump and so just a fundamental different way of doing this, a plan
to enacting. So I think that early twenty twenty five and throughout twenty twenty five it's going to be a much more robust year policy wise than twenty seventeen wise, and buckle up because there's a lot of marketing fact there.
That is one of the best insights I've seen on this election. Ed Mills at Raymond James there on the difference of Trump eight years on, very interesting, absolutely fascinating to see how this unfolds. We'll do that with our political leadership. David Gerra. There's been a sighting out of Philadelphia Romain Bostic of further sighting out of Detroit. I believe they're migrating back to New York. It'll be good to see them, and of course the political team, don't
forget Joe Matthew and Kayley Lines. With balance of power, we're on to fed day, two pm this afternoon. The press conference will be delicate. We're out on YouTube. Subscribe to Bloomberg Podcast. Humbled by the growth here in the last ten days or so. Thank you for your subscribing, your friends subscribing to Bloomberg Podcast on Apple CarPlay, Android Auto, and of course on Apple podcasts and YouTube podcasts. This is single best idea.