Trump: AI ‘Taking Over the World...is a Hoax'

"Balance of Power" focuses on the intersection of politics and global business. On today's show, Douglas Holtz-Eakin, President of the American Action Forum and former Director of the Congressional Budget Office, says the Federal Reserve should raise interest rates this week and warns that failing to do so would undercut its credibility as inflation remains its central challenge. David Sacks, chair of the President's Council of Advisors on Science & Technology, says Anthropic and OpenAI should slow development of their most advanced AI models if they believe the technology poses serious risks, but argues they don’t need new regulation to do it. Steven Cook, senior fellow for Middle East and Africa studies at the Council on Foreign Relations, says Saudi Arabia made a “grave miscalculation” in confronting the Houthis and now finds itself in an “extraordinarily strategically vulnerable position.” Chapters: 00:01:49 Bloomberg's Jeff Mason on Trump Pushes Back on AI Safety Concerns 00:05:37 Bloomberg's Erik Wasson on Congress Returns With a Packed Agenda 00:10:22 Douglas Holtz-Eakin, President of the American Action Forum and Former Director of the Congressional Budget Office, on Inflation and Fiscal Risks 00:13:25 Douglas Holtz-Eakin on Rising Bond Yields and US Debt Concerns 00:14:19 Douglas Holtz-Eakin on Trump, Interest Rates and the Federal Reserve 00:16:14 Douglas Holtz-Eakin on Treasury Secretary Bessent’s Market Interventions 00:18:02 Power Moves: Top Financial Moves 00:21:50 David Sacks, White House Council of Advisors on Science & Technology Co-Chair, on AI Regulation and Frontier Labs 00:25:21 David Sacks on Concerns Over Regulatory Capture in AI 00:27:08 David Sacks on Trump’s Approach to AI Development 00:28:43 David Sacks on AI Transparency, Audits and Oversight 00:29:37 David Sacks on US-China Competition and the AI Race 00:34:16 Bloomberg's Chris Kennedy on Saudi Pipeline Closure Adds Pressure on Oil Markets 00:36:32 Steven Cook, Senior Fellow for Middle East and Africa Studies at the Council on Foreign Relations, on Saudi Arabia’s Vulnerability in the Middle East 00:38:01 Steven Cook on Iran, the Houthis and Regional Energy Chokepoints 00:40:38 Steven Cook on Strait of Hormuz Talks and Regional Diplomacy 00:44:33 Political Panel Reacts: AI Regulation and the Midterms, Mitch McConnell Returns to the Senate, Trump Convention Competes With NFL Viewership -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts